CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported second-quarter net income of $3.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Carlsbad, California-based company said it had profit of 3 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 17 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The maker of smart connected devices posted revenue of $129.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $123 million.
For the current quarter ending in September, Arlo Technologies expects its per-share earnings to range from 12 cents to 18 cents.
The company said it expects revenue in the range of $133 million to $143 million for the fiscal third quarter.
Arlo Technologies shares have risen 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.43, a climb of 29% 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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