Fabrinet (FN) Beat Earnings. Why Did Shares Fall 7% After Hours?

Fabrinet (NYSE:FN) delivered record fiscal fourth-quarter revenue of $1.316 billion, up 45% from a year earlier, and non-GAAP EPS of $4.10. Both topped consensus estimates of approximately $1.27 billion and $3.81, respectively. Fabrinet (NYSE:FN) then guided fiscal first-quarter revenue to $1.375 billion to $1.425 billion and non-GAAP EPS to $4.10 to $4.25, also above consensus. […]