Business & Tech
Share Prices of Westford's Netscout Reach 13-Year Highs After Thursday News
The run on the Littleton Road-based companies' shares came after a conference call on Thursday morning that said second quarter earnings were almost double what was expected.
Thursday morning was a good time to be a holder of stock in the Westford-based Netscout, as shares climbed nearly 20 percent following higher than predicted second quarter earnings results in an phone announcement by the company at 8 a.m.
Located near the intersection of Concord and Littleton roads, the company announced GAAP Q2 revenue of $92.1 million, well above their projection of $52.4 million.
"NetScout delivered a solid second quarter, reporting good results that were in line with our operating plan," said Netscout President and CEO Anil Singhal in a press release on the Nasdaq website.
Find out what's happening in Westfordfor free with the latest updates from Patch.
As of approximately 2 p.m. on Thursday, Netscout stocks (Symbol:NTCT) climbed to just over $30 a share from their starting price of around $25 at the beginning of the day.
The $30 share asking price is the highest for Netscout since January of 2000.
Find out what's happening in Westfordfor free with the latest updates from Patch.
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