TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Thursday reported first-quarter profit of $23.6 million.
On a per-share basis, the Tysons, Virginia-based company said it had profit of 47 cents. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The security service company posted revenue of $265.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $250.4 million.
Alarm.com expects full-year earnings in the range of $2.81 to $2.82 per share, with revenue in the range of $1.06 billion to $1.07 billion.
Alarm.com shares have declined nearly 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47, a fall of 12% 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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