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

Fabrinet reported record fiscal fourth-quarter revenue of $1.316 billion, representing 45% growth year-over-year, and delivered non-GAAP earnings per share of $4.10. Both figures exceeded consensus expectations, with analysts having projected approximately $1.27 billion in revenue and $3.81 in EPS. The company also provided forward guidance well above market expectations, projecting first-quarter revenue between $1.375 billion and $1.425 billion alongside non-GAAP EPS guidance of $4.10 to $4.25