The networking equipment maker reported lower-than-expected earnings and sales, missing estimates by $0.41 and $26.1M respectively.
Ubiquiti posted Q3 non-GAAP earnings per share of $3.88, missing estimates by $0.41. Revenue reached $788.2M, up 18.7% year-over-year but $26.1M below expectations.
The company’s revenue declined 3.3% from the prior quarter while growing 18.7% compared to the same period last year. Analysts had anticipated stronger performance in both earnings and sales.
No immediate market reaction was disclosed in the release.