IPG: Q4 Earnings Snapshot
By AP News
Published - Feb 13, 2024, 08:18 AM ET
Last Updated - Feb 13, 2024, 08:18 AM EST
MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported fourth-quarter net income of $41.4 million.
On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 89 cents.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The high-powered laser maker posted revenue of $298.9 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $285.8 million.
