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Arlo Technologies Inc Up 6.92% To $11.13 After Earnings Beat

Friday, March 01, 2024 10:29 AM | InvestorsObserver Analysts

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Arlo Technologies Inc Up 6.92% To $11.13 After Earnings Beat

Arlo Technologies Inc (ARLO) surpassed earnings projections on 2/29/2024 for Q4 2023.

Arlo Technologies Inc's earnings came in at an EPS of $0.11 per share, 38.00% higher than estimates for an EPS of $0.08 per share. The firm's earnings are up 375% since reporting losses of $0.04 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $134.6 million. The Industrials company managed to surpass those expectations for its fourth quarter with revenue of $135.1 million, a positive revenue surprise of $503 thousand (0%). The firm managed 14% growth year-over-year due to Arlo Technologies Inc reporting quarterly revenue of $118.5 million in its year-ago quarter. Arlo Technologies Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 6.92% to $11.13 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 72. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Arlo Technologies Inc is engaged in the provision of security and video monitoring solutions for homes and businesses. Its product portfolio comprises Arlo Security Camera, Arlo Q and Arlo Q Plus, Arlo Pro, Arlo Baby, Arlo Audio Doorbell and Arlo Chime, and Arlo Security Light. The company conducts its business across three geographic regions: Americas; Europe, Middle-East and Africa; and Asia Pacific. Geographically the company receives maximum revenue from the Americas.

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