CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported a loss of $11.6 million in its second quarter.
The Carlsbad, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The maker of smart connected devices posted revenue of $127.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $125.4 million.
For the current quarter ending in September, Arlo Technologies expects its per-share earnings to range from 8 cents to 14 cents.
The company said it expects revenue in the range of $132 million to $142 million for the fiscal third quarter.
Arlo Technologies shares have increased 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.50, a climb of 18% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARLO at https://www.zacks.com/ap/ARLO
