Why Axon Shares Jumped 15% Today
Shares of Axon Enterprise (NASDAQ: AXON) jumped as much as 15.8% in morning trading on Wednesday after the law enforcement equipment company reported second-quarter results. Shares held gains throughout the day and are up about 15% at 2:16 p.m. ET.
Axon's revenue jumped 31% in the quarter to $285.6 million, and adjusted earnings were $0.44 per share. Analysts were expecting earnings of $0.38 per share and $258 million in revenue.
Management also slightly increased its outlook for the full year. Revenue is now expected to be between $1.07 billion and $1.12 billion, a $20 million increase in the guidance range. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are now forecast to be $190 million to $200 million.
Source Fool.com
