Why Cantaloupe Stock Exploded 11% Higher Today

Shares of digital payments and data processing company Cantaloupe (NASDAQ: CTLP) soared 11.6% through 11:25 a.m. ET on Wednesday after beating analyst forecasts for quarterly sales and guiding higher than Wall Street had expected. Heading into fiscal Q2 2023, analysts had predicted Cantaloupe would lose $0.01 per share on sales of $58.8 million. Cantaloupe hit the earnings nail on the head and eclipsed sales predictions, reporting revenue of $61.3 million for the quarter.