05:46 PM EST, 02/03/2025 (MT Newswires) -- (Updates with buyback information in the seventh paragraph and stock price movement in the last para.)

Fabrinet ( FN ) reported fiscal Q2 non-GAAP diluted earnings late Monday of $2.61, up from $2.08 a year earlier.

Analysts surveyed by FactSet expected $2.49.

Revenue for the quarter ended Dec. 27 was $833.6 million, up from $712.7 million a year earlier.

Analysts polled by FactSet expected $813.5 million.

The company said it expects fiscal Q3 non-GAAP diluted earnings of $2.55 to $2.63. Analysts surveyed by FactSet expect $2.55.

Fabrinet ( FN ) expects revenue for the quarter of $850 million to $870 million. Analysts polled by FactSet expect $825 million.

The company said its board authorized the repurchase of up to an additional $100 million of ordinary shares, bringing the total to $534.3 million.

Fabrinet ( FN ) shares were down more than 1% in after-hours activity.