The server and storage specialist reported revenue of $156.5 million, a massive hike from $68.2 million in the same period last year, and comfortably above analysts' forecast of $153.1 million.
Excluding items, Mellanox earned $1.37 a share, up from 34 cents a share in the same period last year. Analysts were looking for earnings of $1.13 a share.
For the fourth quarter, however, Mellanox expects revenue between $145 and $150 million, well below the consensus estimate of $157 million.Mellanox, which competes with Broadcom (BRCM), Emulex (ELX) and QLogic (QLGC), predicts a slowdown in large deals during the fourth quarter. The guidance pushed shares of Mellanox down 23.04% to $75.54 in extended trading. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV