Ubiquiti Networks Earnings: Here’s Why the Stock is Rising Now
Ubiquiti Networks Inc (NASDAQ:UBNT) delivered a profit 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 22.64%.
Ubiquiti Networks Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10% to $0.33 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Rose 6.67% to $101.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ubiquiti Networks Inc reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.27. It beat the average revenue estimate of $93.28 million.
Quoting Management: “Finishing fiscal 2013 with record quarterly revenue and earnings demonstrates our ability to quickly overcome challenges. Now we are turning our full focus to growth,” said Robert J. Pera, Founder, Chief Executive Officer and Executive Chairman of Ubiquiti Networks. “Our business model, innovative technology and user community are continuing to disrupt incumbents in the networking market.”
Key Stats (on next page)…