Alarm.com stock rallies more than 15% after earnings, outlook tops Street view
Alarm.com Holdings Inc. shares surged in the extended session Wednesday after the property monitoring company's earnings and outlook topped Wall Street estimates. Alarm.com shares rallied 16% after hours, following a 3.3% rise to close the regular session at $47.25. The company reported a third-quarter loss of $7.7 million, or 16 cents a share, compared with $15.1 million, or 31 cents a share, in the year-ago period. Adjusted earnings were 36 cents a share. Revenue rose to $111.8 million from $90 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 25 cents a share on revenue of $97.4 million. For the year, Alarm.com expects earnings of $1.28 a share on revenue of $407.5 million to $409.7 million, while analysts had forecast $1.20 on revenue of $390.8 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.