CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported third-quarter net income of $6.9 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 net income of 6 cents. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The maker of smart connected devices posted revenue of $139.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $139 million.
For the current quarter ending in December, Arlo Technologies expects its per-share earnings to range from 13 cents to 19 cents.
The company said it expects revenue in the range of $131 million to $141 million for the fiscal fourth quarter.
Arlo Technologies shares have increased 51% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.94, an increase of 44% 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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