Calix jumps after strong quarterly forecasts

Shares of telecommunications company Calix CALX.N rise 13.1% to $37.61 in trading after the bell

Calix forecasts Q2 revenue and adjusted earnings per share above the Street's estimates and increases stock repurchase authorization by an additional $100 million

Expects Q2 revenue between $221 million and $227 million and Q2 adj. EPS between 18 cents and 24 cents

Analysts were expecting Q2 revenue of $210.4 million and adj. EPS of 16 cents

As of last close, CALX down ~5% YTD