- Ubiquiti misses 2Q profit forecasts
SAN JOSE, Calif. (AP) _ Ubiquiti Networks Inc. (UBNT) on Thursday reported fiscal second-quarter earnings of $60.6 million.
The San Jose, California-based company said it had net income of 72 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The computer networking company posted revenue of $213.5 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $205.2 million.
For the current quarter ending in April, Ubiquiti expects its per-share earnings to range from 73 cents to 79 cents.
The company said it expects revenue in the range of $210 million to $220 million for the fiscal third quarter.
Ubiquiti shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $64.13, more than doubling in the last 12 months.
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