11:45 AM EST, 11/06/2024 (MT Newswires) -- (Updates to include the stock movement in the headline and first paragraph.)

Trimble (TRMB) shares rose 18% in recent Wednesday trading after the technology company reported Q3 results that topped estimates by analysts and raised 2024 guidance.

Non-GAAP earnings in Q3 rose to $0.70 per diluted share from $0.68 a year earlier, the company said Wednesday.

Analysts polled by Capital IQ expected $0.62.

Revenue fell to $875.8 million from $957.3 million a year earlier.

Analysts polled by Capital IQ expected $864.5 million.

The company expects Q4 non-GAAP EPS in the range of $0.83 to $0.91 on revenue of $925 million to $965 million. Analysts polled by Capital IQ expect EPS of $0.88 on revenue of $942.8 million.

The company boosted 2024 guidance with non-GAAP EPS at $2.79 to $2.87 on revenue of $3.63 billion to $3.67 billion versus the previous projections of EPS at $2.67 to $2.81 on revenue of $3.59 billion to $3.67 billion.

Analysts polled by Capital IQ expect EPS of $2.75 on revenue of $3.63 billion.

Price: 72.95, Change: +11.33, Percent Change: +18.40