The telecommunications equipment manufacturer reported second-quarter earnings of 70 cents a share on revenue of $1.43 billion. The consensus estimate called for earnings of 68 cents a share on revenue of $1.43 billion.
Arris also issued third-quarter EPS guidance of 69 cents to 74 cents on revenue of $1.37 billion to $1.41 billion. Analysts expect EPS of 69 cents on revenue of $1.4 billion.
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The stock was down 12.48% to $29.91 at 11:07 a.m.
Separately, TheStreet Ratings team rates ARRIS GROUP INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARRIS GROUP INC (ARRS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
You can view the full analysis from the report here: ARRS Ratings Report