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 story : Arlo Technologies stock rallies after narrower Q1 loss #FinanceUSA #StockMarketNEWS Shares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras

@stockMarketNEWS Thu 06 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Arlo Technologies stock rallies after narrower Q1 loss #FinanceUSA #StockMarketNEWS
Shares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras and other equipment reported a narrower-than-expected first-quarter loss and sales topped forecasts. Arlo said it lost .7 million, or 13 cents a share, in the quarter, compared with a loss of .2 million, or 19 cents a share, in the year-ago quarter. Adjusted for one-time items, Arlo lost 3 cents a share, compared with 8 cents a share a year ago. Sales rose 26% to .6 million, Arlo said. Analysts polled by FactSet expected Arlo to report an adjusted loss of 21 cents a share on sales of .9 million. "In 2020 we successfully pivoted to become services-focused to create a more predictable, more profitable business and our strong Q1 results are further proof of our progress," Chief Executive Matthew McRae said in a statement. Arlo guided for second-quarter revenue between million and million, and an adjusted per-share loss between 20 cents and 13 cents. Shares of Arlo ended the regular trading day down 0.2%.


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