Electronic gear maker Amphenol forecasts upbeat quarterly revenue on data center demand

• Amphenol forecast revenue in the range of $9.3 billion to $9.4 billion for the third quarter, compared with analysts' average estimate of $8.69 billion, according to data compiled by LSEG.
• It reported revenue of $8.76 billion for the quarter ended June 30, compared with estimates of $8.23 billion, while adjusted profit came in at $1.35 per share, compared with estimates of $1.18 per share.

• Demand for Amphenol's connectors and sensor systems surged as tech companies aggressively build out data center infrastructure needed to support generative AI workloads.
• The company's Communications Solutions segment, its largest business and the unit most exposed to IT infrastructure and networking equipment demand, posted an 85% jump in sales of $5.38 billion in the second quarter.
• Amphenol raised its full-year sales forecast for its recently acquired CommScope business to $4.6 billion, from its prior projection of $4.1 billion.

July 29 - Electronic gear maker Amphenol forecast third-quarter revenue above Wall Street estimates on Wednesday, as spending on AI data centers boosted demand for its connectivity products.

Shares of the company rose 5.7% in premarket trading.