Why Arlo Technologies Stock Is Soaring 25% Today
Thursday is looking like a very nice day indeed to be invested in shares of Arlo Technologies (NYSE: ARLO). Shares of the Internet of Things (IoT) maker of wireless security cameras, audio and video doorbells, and floodlights are up 25.5% as of 11:10 a.m. EDT, after Arlo reported better-than-expected sales and a less-bad-than-expected net loss for Q2 2020.
Heading into earnings, analysts had forecast Arlo would lose $0.41 per share on sales of $58.8 million in the quarter. Instead, Arlo reported last night that its sales were $66.6 million, with a loss of just $0.31 per share.
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Source Fool.com
