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Why Sierra Wireless Stock Briefly Soared on Wednesday Morning

Why Sierra Wireless Stock Briefly Soared on Wednesday Morning

Shares of Sierra Wireless (NASDAQ: SWIR) briefly soared by as much as 10% this morning after the company reported fourth-quarter earnings. Revenue in the fourth quarter came in at $120.5 million, ahead of the consensus estimate of $116.7 million. Sierra Wireless said that recurring and services revenue comprised 27% of sales during the quarter.