SAN JOSE, Calif. (AP) _ Arlo Technologies Inc. (ARLO) on Wednesday reported a loss of $10.7 million in its first quarter.
The San Jose, California-based company said it had a loss of 13 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The maker of smart connected devices posted revenue of $82.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $77.3 million.
For the current quarter ending in July, Arlo Technologies expects its results to range from a loss of 20 cents per share to a loss of 13 cents per share.
The company said it expects revenue in the range of $80 million to $90 million for the fiscal second quarter.
Arlo Technologies shares have fallen 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.95, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARLO at https://www.zacks.com/ap/ARLO
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