How Zebra Technologies Shares Gained 15% in October
Shares of Zebra Technologies (NASDAQ: ZBRA) rose 15.3% in October 2019, according to data from S&P Global Market Intelligence. The company posted a strong third-quarter report near the end of the month, paired with the announcement of an important multiyear contract.
The company, which makes bar code-scanning tools and other information management systems, saw sales rise 3.5% year over year to $1.13 billion. Earnings increased by 19% to $3.43 per share. Your average analyst would have settled for earnings near $3.28 per share, though Zebra did fall just short of the Street's revenue target at $1.14 billion.
The company also unveiled a multiyear deal with the U.S. Postal Service, supplying 300,000 bar code readers in 2020 as the start of a broader partnership. It's the largest single deal in Zebra's history, though a handful of the company's largest customers are in the same ballpark if you combine several smaller-scale agreements. For more insight on the USPS contract, check out the questions-and-answers section of our transcript from Zebra's third-quarter conference call.
Source Fool.com
