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Quantum Shares Rise After Swing to Fiscal Q1 Adjusted Earnings, Higher Revenue

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Quantum (QMCO) shares rose 63% in Tuesday trading after the company reported fiscal Q1 adjusted earnings late Monday of $0.18 per diluted share, swinging from a loss of $1.58 a year earlier.

Two analysts polled by FactSet expected a loss of $0.17.

Revenue for the quarter ended June 30 was $80.8 million, up from $64.3 million a year earlier.

Two analysts expected $75.1 million.

For fiscal Q2, the company expects adjusted basic net income per share of $0.12, plus or minus $0.10, on revenue of $82.0 million, plus or minus $2 million. Two analysts expect $0.13 and $82.0 million, respectively.

Price: $19.11, Change: $+7.33, Percent Change: +62.22%

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