TTM Technologies (TTMI) surged over 15% on Thursday following a remarkable first-quarter earnings report that significantly outperformed analyst expectations. The company reported net sales of $846 million, a 30% year-over-year increase, and net income of $80 million, or $0.75 per share, reflecting a 52% jump. Analysts had anticipated sales of $787 million and earnings of $0.67 per share, highlighting the strength of TTM’s performance.

The robust results were driven by heightened demand from the data center and networking sectors, fueled by ongoing investments in artificial intelligence (AI) technology. TTM’s guidance for the second quarter further reinforces this momentum, projecting net sales between $930 million and $970 million, well above the consensus estimate of $822.5 million. This positions TTM as a key player in the expanding AI infrastructure market.

For market professionals, TTM’s strong earnings and optimistic guidance suggest it could be a compelling investment as demand for AI-related components continues to grow, making it a stock to watch in the tech sector.

Source: fool.com