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Shares of Internet of Things Play Impinj Soar on Strong Earnings and Outlook

Shares of Internet of Things Play Impinj Soar on Strong Earnings and Outlook

Impinj stock skyrocketed Thursday after the chip provider offered robust guidance and better-than-expected earnings. For the March quarter, Impinj posted revenue of $76.8 million, with adjusted earnings of 21 cents a share. The company’s guidance had called for revenue between $72 million and $75 million, and adjusted earnings of 8 to 13 cents a share.