Arlo Technologies: 2Q Earnings Snapshot
Posted Aug 5, 2020 07:12:44 PM.
Last Updated Aug 5, 2020 07:24:52 PM.
This article is more than 5 years old.
SAN JOSE, Calif. (AP) _ Arlo Technologies Inc. (ARLO) on Wednesday reported a loss of $29.3 million in its second quarter.
The San Jose, California-based company said it had a loss of 38 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 31 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share.
The maker of smart connected devices posted revenue of $66.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $55.8 million.
For the current quarter ending in October, Arlo Technologies expects its results to range from a loss of 33 cents per share to a loss of 24 cents per share.
The company said it expects revenue in the range of $85 million to $95 million for the fiscal third quarter.
In the final minutes of trading on Wednesday, the company’s shares hit $4.97. A year ago, they were trading at $3.91.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARLO at https://www.zacks.com/ap/ARLO
The Associated Press
