TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Wednesday reported second-quarter net income of $15.8 million.
The Tysons, Virginia-based company said it had profit of 30 cents per share. Earnings, adjusted for one-time gains and costs, were 49 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The security service company posted revenue of $223.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $214.7 million.
Alarm.com expects full-year earnings in the range of $1.69 to $1.73 per share, with revenue in the range of $872.3 million to $887.7 million.
Alarm.com shares have fallen 0.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.21, a decrease of 32% in the last 12 months.
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