Why Ruckus Wireless Shares Skyrocketed
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 Ruckus Wireless have skyrocketed by as high as 14% today after the company reported earnings.
So what: Revenue in the second quarter came in at $63.9 million, besting the $62 million consensus estimate. The $0.05 per share in non-GAAP net income was also better than the $0.03 per share that the Street thought was in store.
Now what: CEO Selina Lo said the company is gaining momentum thanks to a record number of new customer wins and network expansions at existing customers. The company is the top brand being evaluated for Wi-Fi carrier deployments next year, according to a third-party study. Guidance next quarter should be in the range of $66 million to $69 million, with adjusted earnings per share of approximately $0.04.
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The article Why Ruckus Wireless Shares Skyrocketed originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Ruckus Wireless. 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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