Arlo Technologies: Q1 Earnings Snapshot
CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported a loss of $835,000 in its first quarter.
The Carlsbad, California-based company said it had a loss of 1 cent per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The maker of smart connected devices posted revenue of $119.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $117.9 million.
For the current quarter ending in June, Arlo Technologies expects its per-share earnings to range from 11 cents to 17 cents.
The company said it expects revenue in the range of $119 million to $129 million for the fiscal second quarter.
Arlo Technologies shares have declined almost 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.64, a decrease of 25% in the last 12 months.
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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