Arlo Technologies Inc reports results for the quarter ended in June - Earnings Summary

Arlo Technologies

08/08/2024 23:27

* Arlo Technologies Inc  ARLO.N  reported quarterly adjusted
earnings of 10 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 6 cents.  The mean expectation of five analysts
for the quarter was for earnings of 9 cents per share. Wall
Street expected results to range from 8 cents to 10 cents per
share.
    * Revenue rose 10.8% to $127.45 million from a year ago;
analysts
expected $125.01 million. 
    * Arlo Technologies Inc's reported EPS for the quarter was a
loss
of 12 cents​.
    * The company reported a quarterly loss of $11.56 million.
    * Arlo Technologies Inc shares had fallen by 2.1% this
quarter and
gained 34.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the computer &
electronics retailers peer group is also "buy"

Wall Street's median 12-month price target for Arlo Technologies
Inc is $17.00 
This summary was machine generated from LSEG data August 8 at
10:26 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.09           0.10           Beat
 Mar. 31 2024      0.09           0.09           Met
 Dec. 31 2023      0.08           0.11           Beat
 Sep. 30 2023      0.07           0.09           Beat