Meru Networks Earnings: Here’s Why Investors are Happy Now
Meru Networks, Inc. (NASDAQ:MERU) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.59%.
Meru Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.1 in the quarter versus EPS of $-0.50 in the year-earlier quarter.
Revenue: Rose 27.25% to $24.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Meru Networks, Inc. reported adjusted EPS loss of $0.1 per share. By that measure, the company beat the mean analyst estimate of $-0.22. It beat the average revenue estimate of $24.08 million.
Quoting Management: “We are very pleased to have delivered record first quarter revenues,” said Dr. Bami Bastani, president and chief executive officer, Meru Networks. “Meru’s strategy of focusing on three verticals – education, healthcare and hospitality – combined with ongoing cost controls, continues to be successful in driving the company’s turnaround.”
Key Stats (on next page)…