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.