CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported a loss of $9.6 million in its first quarter.
On a per-share basis, the Carlsbad, California-based company said it had a loss of 10 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 9 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 9 cents per share.
The maker of smart connected devices posted revenue of $124.2 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $124.1 million.
For the current quarter ending in June, Arlo Technologies expects its per-share earnings to range from 6 cents to 12 cents.
Arlo Technologies shares have risen 46% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.93, more than doubling 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
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