TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Thursday reported third-quarter profit of $35.3 million.
The Tysons, Virginia-based company said it had net income of 65 cents per share. Earnings, adjusted for one-time gains and costs, came to 76 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The security service company posted revenue of $256.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $250.7 million.
Alarm.com expects full-year earnings to be $2.53 per share, with revenue expected to be $1 billion.
Alarm.com shares have decreased 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.07, a drop of 19% 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 ALRM at https://www.zacks.com/ap/ALRM
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