Arlo Jumps 25% On Strong 4Q Performance
Arlo Technologies Inc delivered better-than-expected sales in the
fourth quarter as the cloud-based infrastructure and smart
connected device provider saw an increase in service revenue and an
89% increase in the number of new paid account additions.
Meanwhile, shares of Arlo Technologies (ARLO) were up about 25% in
pre-market trading today. Driven by operational efficiency, the
company posted a net loss per share (EPS) of $0.08 during the
fourth quarter, which was lower than analysts’ expectations of a
net loss per share of $0.18. Revenue decreased 6.2% year-on-year to
$114.8 million, topping analysts’ estimates of $111.57 million.
Gross profit jumped 79% year-on-year to $24.5 million.