Investing.com - Novanta (NASDAQ:NOVT) reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Novanta announced earnings per share of $0.81 on revenue of $223M. Analysts polled by Investing.com anticipated EPS of $0.76 on revenue of $217.62M.
Novanta shares are down 20% from the beginning of the year, still down 23.34% from its 52 week high of $183.34 set on November 8, 2021.
Novanta follows other major Information Technology sector earnings this month
Novanta's report follows an earnings beat by Apple on October 27, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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