How Ubiquiti Just Smashed Expectations
Management at Ubiquiti (NYSE: UI) -- formerly known as Ubiquiti Networks -- has never been keen on fulfilling the whims of Wall Street analysts. Heck, the company doesn't provide quarterly financial guidance, seldom holds earnings conference calls, and generally doesn't even announce the dates of its quarterly releases in advance, opting instead to drop the news and let the market scramble to react.
The reaction to Ubiquiti's fiscal first-quarter 2020 report, which hit the wires on Friday morning, was particularly pronounced. Shares of the networking technology company skyrocketed an incredible 36% by the end of the day in response -- the kind of pop typically only reserved for the subjects of mergers and acquisitions announcements.
Let's dig deeper, then, to better understand how Ubiquiti kicked off its new fiscal year, starting with a closer look at its headline numbers relative to the same year-ago period:
Source Fool.com
