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Belden shares jump after record quarter as AI data center demand rises
Belden reported second-quarter revenue of $750.2 million, up 11.6% year over year, and said orders reached a record $836 million with a 1.11 book-to-bill ratio.
Belden’s shares surged after the company posted record second-quarter results, a move investors linked to strengthening demand tied to AI data center buildouts. MarketBeat Ratings highlighted that the St. Louis-based industrial cable and wire maker saw strong momentum alongside its ongoing acquisition plans.
In the quarter, Belden reported revenue of $750.2 million, up 11.6% year over year, and ahead of the $746.75 million Wall Street expected. Net income rose to $68.5 million, up from $61 million, while adjusted earnings per share reached $2.34, up 24% and above the $2.02 consensus.
Belden also pointed to demand indicators, with orders reaching a record $836 million, up 19% year over year, lifting the book-to-bill ratio to 1.11. The company said adjusted EBITDA rose about 28% to $146 million, and margin increased to 19.5% from 17%.
The company disclosed roughly $40 million in hyperscaler orders during the quarter, including a $20 million contract with an unnamed Tier 1 hyperscaler for high-density fiber connectivity in an AI data center, even as it described the segment as still a small portion of its overall business.