On Tuesday, Datalink (DTLK) released higher-than-expected quarterly earnings and revenue estimates. The news sent DTLK stock surging more than 27% in Tuesday morning trading.
DTLK stock moved above $13 a share after the company forecast fourth-quarter earnings of between 33 cents and 37 cents a share. That was well above its prior estimate of between 24 cents and 30 cents per share of DTLK stock. It also surprised Wall Street, which was looking for a quarterly profit of 26 cents per share of DTLK stock the Associated Press notes.
Datalink, which will report its results on Feb. 20, also indicated it expected to report revenue of about $174 million for the fourth-quarter. DTLK has previously estimated revenue of between $160 million and $170 million. Analysts had anticipated $164.9 million in quarterly revenue.
DTLK stock climbed to around $14 a share in September, but dropped back to under $11 in October. DTLK stock has gained more than 20% over the past twelve months.