Why Is Quantum Stock Surging on Tuesday?

Quantum Corp (NASDAQ: QMCO ) stock traded higher on Tuesday after the company reported better-than-expected fiscal first-quarter financial results and issued second-quarter guidance above analyst estimates. The company achieved its first non-GAAP profitable quarter since 2023, driven by record backlog growth and strong demand for tiered data storage solutions. Read Also: EXCLUSIVE: Nvidia Is Helping This AI Company Get 'Better Intelligence Per Dollar' Second-Quarter Guidance Surpasses Projections According to the company’s financial updates released on Monday, Quantum expects fiscal second-quarter 2027 revenue of $80 million to $84 million, well above analyst projections of $74.750 million. The company forecasts non-GAAP adjusted basic net income per share of 2 cents to 22 cents, compared to estimated losses of three cents, according to Pro. Non-GAAP adjusted operating...