IPG Photonics Q3 Earnings Surpass Estimates, Plans To Acquire Clean-Lasersysteme

IPG Photonics Corporation (NASDAQ:IPGP) shares are trading higher on Tuesday.

The company reported that the third quarter adjusted earnings per share was 29 cents, beating the street view of 20 cents. Quarterly revenues of $233.143 million beat the analyst consensus estimate of $228.445 million.

Revenues slumped 23% year over year due to lower demand in industrial and e-mobility markets. 

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Gross margin of 23.2% decreased significantly ...