Ubiquiti Networks Inc (NASDAQ:UBNT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.31%.
Ubiquiti Networks Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20% to $0.24 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Decreased 9.29% to $83.15 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ubiquiti Networks Inc reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $80.1 million.
Quoting Management: “I believe we are back on the right track, but we still have high internal performance expectations. We believe our unique research and development approach, disruptive product economics, and user community evangelism together represent a paradigm shift for the service provider and enterprise markets. We look forward to the opportunity to show stronger results and to execute on our long-term vision,” said Robert J. Pera, Founder, Chief Executive Officer and Executive Chairman of Ubiquiti Networks.
Key Stats (on next page)…