NEW YORK (TheStreet) -- Ubiquiti Networks (UBNT) stock is sinking in post-market trading despite beating earnings estimates and issuing above-consensus guidance. After the bell, shares dropped 8.2% to $38.
The communications company earned 50 cents a share over the three months to March, a penny higher than analysts surveyed by Thomson Reuters expected. Revenue of $148.3 million rose 78.2% year over year and exceeded estimates by $6.4 million.
For its fourth quarter, Ubiquiti anticipates revenue between $147 million and $153 million and earnings of 48 cents to 52 cents a share. Analysts expected $150.45 million and 50 cents a share.
- You can view the full analysis from the report here: UBNT Ratings Report
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