Cigna earnings beat by $0.04, revenue topped estimates
NEW YORK - On Friday, Ubiquiti Inc. (NYSE:UI) shares surged 4.03% after the networking equipment maker reported fiscal second-quarter results that exceeded analyst expectations.
The company posted adjusted earnings per share of $2.28, beating the consensus estimate of $1.86 by $0.42. Revenue came in at $599.9 million, significantly above analysts’ projections of $510.41 million and up 29% YoY.
Ubiquiti’s strong performance was driven by growth in both its Enterprise Technology and Service Provider Technology segments. Enterprise Technology revenue jumped 32.4% YoY to $518.2 million, while Service Provider Technology revenue increased 11.2% to $81.7 million.
Gross margin expanded to 41.2% from 38.2% in the year-ago quarter, primarily due to favorable product mix and lower inventory-related costs, partially offset by higher shipping and tariff expenses.
The company declared a quarterly dividend of $0.60 per share, payable on February 24, 2025 to shareholders of record as of February 18, 2025.
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