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Why Zagg Stock Soared Today

TheMotleyFool

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Shares of Zagg (NASDAQ: ZAGG) have soared today, up by 17% as of 2:40 p.m. EST, after the mobile accessory maker reported third-quarter earnings. Recent acquisitions are starting to contribute more to the business.

Revenue in the third quarter increased 4% to $146.5 million, which resulted in net income of $8.7 million, or $0.30 per share. That was slightly below the $0.31 per share in profits that analysts were expecting. However, investors were encouraged that recent acquisitions -- HALO, BRAVEN, and Gear4 -- are starting to pay off, as those deals had been weighing on Zagg's financials in the first half of the year.

Image source: Zagg.

Source Fool.com

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