IPG Photonics Tops Q1 Aided By Robust Demand For EV Applications
IPG Photonics Corp (NASDAQ:IPGP) reported first-quarter FY22 revenue growth of 7% year-on-year to $369.98 million, beating the consensus of $334.79 million. Materials processing sales accounted for 92% of total revenue and increased 7% Y/Y with higher sales in welding, marking, 3D printing, and cleaning applications. Sales into Other applications increased 9% Y/Y, driven…
Benzinga ·
Benzinga
