CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported a loss of $4.4 million in its third quarter.
The Carlsbad, California-based company said it had a loss of 4 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 11 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The maker of smart connected devices posted revenue of $137.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $136.1 million.
For the current quarter ending in December, Arlo Technologies expects its per-share earnings to range from 7 cents to 13 cents.
The company said it expects revenue in the range of $116 million to $126 million for the fiscal fourth quarter.
Arlo Technologies shares have risen 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.16, an increase of 33% 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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