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.
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