Why Samsara Stock Blasted 13% Higher Today
Internet of Things (IoT) specialist Samsara (NYSE: IOT) was quite the outlier stock on Friday, zooming 13% skyward in price while the S&P 500 index only crawled 0.2% higher. Investors were impressed by their company's surprise bottom-line profit during its second quarter of fiscal 2024; a convincing revenue beat and better-than-expected guidance didn't hurt, either.
After market hours Thursday, Samsara published those results. These showed that the IoT company earned revenue of just over $219 million for the quarter, a figure that was a robust 43% higher year over year. On the bottom line, according to non-GAAP (adjusted) standards, the company flipped to a profit of $3.9 million ($0.01 per share) from a comparatively deep $18.7 million loss in the year-ago period.
On average, analysts tracking Samsara stock were modeling slightly under $207.5 million for revenue, and a per-share, adjusted net loss of $0.02.
Source Fool.com
