Why Ubiquiti Networks Shares Jumped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Ubiquiti Networks have jumped today by as much as 12%, after the company reported earnings.
So what: Revenue in the quarter totaled $74.9 million, which translated into non-GAAP earnings per share of $0.20. Both top and bottom line results compared favorably relative to the $71.6 million in sales, and $0.18 per share profit that the Street was modeling for.
Now what: CEO Robert Pera said the company continues to invest in its infrastructure, and that its anti-counterfeit manufacturing technology has been implemented throughout all of Ubiquiti's platforms. Guidance for the current quarter calls for revenue in the range of $76 million to $84 million, with adjusted earnings per share of $0.20 to $0.24. Analysts were expecting just under $75 million in sales, and $0.19 per share in adjusted profit.
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The article Why Ubiquiti Networks Shares Jumped originally appeared on Fool.com.Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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