Ubiquiti falls on Q3 profit, revenue miss

Ubiquiti

05/05/2023 17:39

** Shares of network infrastructure co Ubiquiti Inc  UI.N  down 8.91% at $202.71  
    ** Co reports Q3 earnings of $1.65/shr, below analysts' est of $1.96/shr - Refinitiv 
    ** Qtrly revenue of $457.8 mln also misses analysts' est of $487.9 mln
    ** Decrease in rev over prior quarter was primarily driven by changes in revenue from
Enterprise Technology platform - says co
    ** UI stock down 25.05% YTD
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))