Arris Group Earnings: Here’s Why the Stock is Rising Now
Arris Group Inc. (NASDAQ:ARRS) 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 2.43%.
Arris Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 84% to $0.46 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Rose 186.38% to $1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arris Group Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.26. It beat the average revenue estimate of $975.57 million.
Quoting Management: “I am very pleased with our second quarter and first half results. The industry continues to react positively to our Motorola Home acquisition. Our integration plans are well on their way and ahead of schedule,” said Bob Stanzione, ARRIS Chairman and CEO. “I am encouraged by the progress we are making in delivering new products to our customers and by an improving business climate.”
Key Stats (on next page)…
Revenue increased 182.88% from $353.65 million in the previous quarter. EPS increased 84% from $0.25 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.46 to a profit $0.34. For the current year, the average estimate has moved down from a profit of $1.64 to a profit of $1.35 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)