Astera Labs reported record second-quarter revenue of $392.4 million, up 104% year over year, driven by strong demand for AI infrastructure connectivity products. PCIe 6.0 products accounted for over half of total sales, up from roughly one-third in the previous quarter. Non-GAAP earnings per share rose to $0.80, whilst gross margin reached 73.7%. The company's Scorpio X-Series fabric switches entered volume production and are expected to become Astera's largest product family by revenue in the third quarter, earlier than previously forecast. Management projects third-quarter revenue between $540 million and $560 million, representing approximately 40% sequential growth. Chief executive Jitendra Mohan attributed the growth to continued spending by hyperscalers, sovereign AI initiatives, and expanding enterprise adoption. The company is also developing optical-connectivity products targeted for volume production beginning in 2027.

Astera Labs stock shoots higher after Q2 earnings - Here's why. Stock score locked: want to see it? Benzinga Rankings give you vital metrics on any stock - anytime. Astera Labs Inc. (NASDAQ:ALAB) posted its second-quarter results after Tuesday's closing bell, beating analyst estimates on the top and bottom lines. Here's a look at the details inside the report. Latest Private Market Opportunities Join 400,000+ Investors This Coal-to-Hydrogen Energy Company Lets Investors Buy In at $9.01/Share Frontieras raised $30M+ from 12,000+ investors and broke ground on its $850M WV facility. Its patented tech reforms coal into hydrogen. Invest at $9.01/share. Join 44,000+ Investors Backing AI-Powered Restaurant Robotics at $5.48/Share Miso's Flippy AI robot has fried 5M+ food baskets for brands like White Castle. Now over 44,000 shareholders are in. Investors can buy shares at $5.48. Astera Labs Q2 details. Astera Labs reported quarterly adjusted earnings of 80 cents per share, which beat the Street's 69 cent estimate, according to Benzinga Pro data. Quarterly revenue came in at $392.4 million, which beat the consensus estimate of $360.72 million. Non-GAAP gross margin was 73.7%, and non-GAAP operating margin was 39.1% for the quarter. "Astera Labs delivered outstanding Q2 2026 results, with record revenue of $392.4 million, up 27% sequentially and 104% year-over-year, driven by broad-based strength across our portfolio, including record quarterly revenue for our Aries product line," said Jitendra Mohan, Astera Labs' CEO. ALAB Stock Price Activity: According to data from Benzinga Pro, Astera Labs stock was up 5.07% to $380.01 in Tuesday's extended trading. Posted In:

Jim Cramer has reversed his stance on Astera Labs, telling investors to "buy, buy, buy" the stock during CNBC's "Mad Money" on 29 July. The shift is notable because Cramer previously flagged the semiconductor company as too expensive compared to established chip makers like Broadcom. Astera Labs shares fell more than 40% from an all-time high of $499.48 on 30 June to the mid-$200s in late July, caught in a broader selloff of AI stocks. The decline wasn't driven by business fundamentals — first-quarter revenue rose 93% year over year to $308.4 million. Cramer said the drop reflected market sentiment rather than operational issues. The company reports second-quarter results on 4 August. Astera Labs designs connectivity hardware that moves data between chips in AI data centres.