Why Arlo Technologies Stock Soared Today
Shares of Arlo Technologies (NYSE: ARLO) have soared today, up by 23% as of noon EST, after the company reported fourth-quarter earnings. The smart-home technology specialist beat expectations for both the top and bottom lines.
Revenue in the fourth quarter was roughly flat at $122.4 million, which was slightly ahead of the consensus estimate of $121 million. That translated into an adjusted net loss per share of $0.26, while analysts were expecting Arlo to lose $0.31 per share on an adjusted basis. On a GAAP basis, Arlo posted positive earnings per share of $0.26. Service revenue increased 24% for the full year.
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Source Fool.com
