Why Ubiquiti Stock Popped Today
Shares of Ubiquiti (NYSE: UI) have popped today, up by 20% as of 12:55 p.m. EST after the company reported better-than-expected earnings. The results utterly demolished consensus estimates.
Revenue in the fiscal first quarter increased by 47% to $473.5 million which blew past analysts' expectation of just $314.3 million in sales. That translated into adjusted net income of $157.1 million, or $2.47 per share, which was also significantly above the $1.45 per share in adjusted profits that Wall Street was modeling for.
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Source Fool.com
