Arlo Technologies: 3Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Arlo Technologies Inc. (ARLO) on Thursday reported a loss of $30.6 million in its third quarter.
The San Jose, California-based company said it had a loss of 41 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 32 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 36 cents per share.
The maker of smart connected devices posted revenue of $106.1 million in the period.
For the current quarter ending in December, Arlo Technologies expects its results to range from a loss of 45 cents per share to a loss of 39 cents per share.
The company said it expects revenue in the range of $115 million to $125 million for the fiscal fourth quarter.
In the final minutes of trading on Thursday, the company’s shares hit $3.47. A year ago, they were trading at $13.71.