TEWKSBURY, Mass.—Starent Networks Corp.'s first-quarter earnings rose as revenue surged on product sales, the maker of equipment for wireless networks said Tuesday.
Net income jumped to $9.7 million, or 13 cents per share, from $2.3 million, or less than 1 cent per share, a year ago.
Analysts expected profit to reach 5 cents per share, according to Thomson Financial.
Revenue more than doubled to $56.2 million from $27.6 million last year. Cost of revenue rose at a faster rate, to $13 million from $5.8 million.
Product sales doubled to $48.9 million.
In aftermarket trading, Starent shares surged $2.03, or 15 percent, to $16.01 after closing Tuesday at $13.98. In the past year, the stock has ranged from $10 to $31.67.
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