In this article, we deep dive into the 5 stocks that boasted double-digit gains and left Wall Street in the dust on Wednesday. For a deeper discussion and an extended list, please see 10 Stocks Notching Impressive Double-Digit Gains.

5. NXP Semiconductors NV (NASDAQ:NXPI)

NXP Semiconductors soared to a fresh all-time high on Wednesday, as investors cheered its stellar earnings performance in the first quarter of the year, with profits more-than-doubling and cracking past the $1 billion level, thanks to a strong demand from AI.

At intra-day trade, NXP Semiconductors NV (NASDAQ:NXPI) climbed to its highest price of $292.85 before paring gains to finish the session just up by 25.59 percent to $289.25 apiece.

In an updated report, NXP Semiconductors NV (NASDAQ:NXPI) said that its GAAP net income attributable to shareholders surged by 129 percent to $1.12 billion from only $490 million in the same period last year, while total revenues climbed by 12 percent to $3.18 billion from $2.8 billion year-on-year.

“Our growth reflects sustained investment, disciplined execution, and growing customer adoption of our differentiated portfolio, particularly in industrial and automotive processing that supports software-defined vehicles and physical AI” said NXP Semiconductors NV (NASDAQ:NXPI) President and CEO Rafael Sotomayor said.

“The momentum we have built is expected to accelerate through the remainder of 2026, with progress increasingly extending across the core of our business,” he noted.

For the second quarter, the company is targeting to generate GAAP revenues of $3.35 billion to $3.55 billion, or an implied growth of 14 to 21 percent year-on-year.

Diluted earnings per share (EPS) are pegged at $2.6 to $3.01, while operating income is projected at $948 million to $1.079 billion.

4. Bloom Energy Corp. (NYSE:BE)

Bloom Energy climbed to a new all-time high on Wednesday, as investors took heart from its strong earnings performance, having swung to profitability in the first quarter of the year.

At intra-day trade, Bloom Energy Corp. (NYSE:BE) jumped to its highest price of $290.47 before paring gains to end the session just up by 27.21 percent at $287.97 apiece.

In an updated report, the company said that it swung to a $70.65 million net profit attributable to shareholders from a $23.8 million attributable net loss in the same period last year.

Revenues also soared by 130 percent to $751 million from $326 million, on the back of a 208.4-percent jump in product revenues.

Commenting on the performance, Bloom Energy Corp. (NYSE:BE) Chairman and CEO KR Sridhar said that the company is ushering in the era of digital power for the digital age, and that it is rapidly becoming the standard and “go-to choice” for on-site power.

Following the strong results, Bloom Energy Corp. (NYSE:BE) raised its full-year 2026 revenue guidance to a range of $3.4 billion to $3.8 billion, versus the $3.1 billion to $3.3 billion as previously expected.

Non-GAAP operating income was pegged at $600 million to $750 million, higher than the $425 million to $475 million targeted prior.

3. Extreme Networks Inc. (NASDAQ:EXTR)

Extreme Networks soared by 28.15 percent on Wednesday to finish at $21.85 apiece—a seven-month high—as investors gobbled up shares after more-than-tripling its profits in the third quarter of fiscal year 2026.

In an updated report, Extreme Networks Inc. (NASDAQ:EXTR) said that its net income for the third quarter ending March climbed by 206 percent to $10.59 million from $3.46 million in the same period last year.

Meanwhile, net revenues grew by 11 percent to $316.87 million from $284.5 million year-on-year. Of the total, product revenues were accounted for the chunk at $199 million, or 11.8 percent higher than the $178 million year-on-year.

Subscription and support revenues, on the other hand, stood at $117.5 million, or 10 percent higher than the $106 million in the same comparable period.

“Our fifth straight quarter of double-digit growth highlights strong momentum, fueled by disciplined execution, differentiated technology, and rising demand for our AI-powered platform. We’ve fully addressed our current and longer-term supply chain needs, including memory, through targeted sourcing strategies, product redesign, and strategic purchase commitments. These actions position us for continued share gains and growth,” Extreme Networks Inc. (NASDAQ:EXTR) President and CEO Ed Meyercord said.

For the fourth quarter ending June 2026, Extreme Networks Inc. (NASDAQ:EXTR) is targeting revenues of $330 million to $335 million, or an implied growth of 7 percent to 9 percent year-on-year.

The company also expects to swing to an earnings per share of $0.12 to $0.15, from a loss per share of $0.06 in the same period a year earlier.

2. The Vita Coco Company, Inc. (NASDAQ:COCO)

Shares of Vita Coco rallied to a new all-time high on Wednesday, as investors cheered its strong earnings performance in the first quarter and a higher growth guidance for the full-year period.

At intra-day trade, The Vita Coco Company, Inc. (NASDAQ:COCO) jumped to its highest price of $67.21 before trimming gains to end the session just up by 29.67 percent at $66.95 apiece.

In a statement, the company said that it grew its net income by 61 percent to $30.47 million from $18.88 million in the same period a year earlier. Net sales increased by 37 percent to $179.76 million from $130.9 million year-on-year.

“Our healthy first quarter shipment performance was driven by very strong branded retail growth in all our major markets, reflective of solid underlying consumer demand and favorable promotional timing differences. Our improved pricing produced healthy gross margin and very strong adjusted EBITDA,” The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin Roper said.

Following the results, The Vita Coco Company, Inc. (NASDAQ:COCO) raised its full-year net sales guidance to a range of $720 million to $735 million, versus $680 million to $700 million as previously projected.

Growth is expected to be bolstered by a targeted mid- to high-teens growth in Vita Coco Coconut Water and improvements in Private Label trends from new and regained business.

Adjusted EBITDA was also raised to a range of $132 million to $138 million, versus $122 million to $128 million year-on-year.

1. MaxLinear Inc. (NASDAQ:MXL)

MaxLinear soared to a fresh four-year high on Wednesday, as investors resumed buying positions in semiconductor stocks, thanks to the highly optimistic outlook for the industry further strengthened by strong earnings performance from key players.

At intra-day trade, the stock surged to a record high of $71.25 before paring gains to finish the session just up by 29.82 percent at $67.52 apiece.

Optimism remained bolstered by its 43-percent growth in revenues in the first quarter of the year, at $137 million versus the $95.9 million in the same period a year earlier.

It also narrowed its net loss by 9.45 percent to $45 million from $49.7 million year-on-year.

MaxLinear Inc. (NASDAQ:MXL) Chairman and CEO Kishore Seendripu pointed to the strong momentum for optical data center connectivity as having bolstered the company’s earnings performance for the period.

“Revenue grew 43 percent year over year, with infrastructure growing more than 130 percent to become our largest end market. This was driven primarily by strong execution and production ramps of our optical data center products at multiple hyperscale customers across scale-up and scale-out AI platforms,” he said.

Following the results, MaxLinear Inc. (NASDAQ:MXL) said that it is now at a clear inflection point in its optical data center business, marked by a step function increase in second-quarter revenues.

For the April to June period, the company is targeting to grow its revenues by 47 percent to 56 percent to a range of $160 million to $170 million, versus $108.8 million in the same period last year.

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