Shares of Viavi Solutions Inc. (NASDAQ: VIAV) saw a significant increase on Wednesday evening, with a 25.17% surge to reach $56.99 after the bell following the company's release of its fiscal third quarter results. The earnings surpassed analyst projections by 22.73% and revenue exceeded expectations by 3.32%. This data pertains to the period ending on March 28. In Q3, Viavi's net revenue hit $406.8 million, marking a 42.8% increase year-over-year. The non-GAAP earnings per share were $0.27, reflecting an 80% YoY growth, with the non-GAAP operating margin expanding by 430 basis points to 21.0%. The network and service enablement segment experienced the most growth, with a 54.4% YoY increase to $321.5 million. As of March 28, the company held $508 million in cash and short-term investments. CEO Oleg Khaykin commented that the company's financial performance for the third quarter surpassed expectations, driven by robust growth in data center and aerospace and defense markets. The full article is accessible on Benzinga.com.