What happened

Shares of Knowles (NYSE:KN) closed Thursday's trading 14.4% above Wednesday's closing prices, lifted by a strong earnings report. Earlier in the day, the stock had flown as much as 16.6% higher.

So what

In the third quarter, the maker of micro-acoustic and audio-processing components saw earnings double year over year, to $0.34 per share. Revenues rose 6.5%, to $236.2 million. The analyst consensus was calling for earnings near $0.30 per share on sales in the general vicinity of $220 million. The results also landed above the top end of management's guidance ranges in both cases.

Close-up shot of a standard capacitor, rated at 680 uf, against a plain white backdrop.

Image source: Getty Images.

Now what

The company is enjoying strong order volumes from Chinese customers, where mass-market smartphones are starting to incorporate Knowles' ultra-efficient microphones in a big way. The company also saw solid growth in industrial and defense markets, where Knowles provides a broad range of electronic capacitors.

It's no surprise to see Knowles surging after a solid earnings report like this one.

Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.