Why Alarm.com Holdings Stock Was a Winner Today
Alarm.com Holdings (NASDAQ: ALRM), a company specializing technology-fueled security products and services, unveiled its first-quarter financial results Friday morning, and investors found them the opposite of alarming. On a modest double beat, the market rewarded the company with a slightly over 1% share price gain. That compared favorably to the marginal decline of the bellwether S&P 500 index.
Alarm.com's revenue for the quarter increased by 7% year over year to slightly under $239 million, topping the consensus pundit expectation of $237 million and change. Adjusted net income also ticked higher, landing at $38.5 million ($0.54 per share) from the year-ago profit of $34.4 million. On average, analysts were anticipating $0.51 per share for this line item.
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