Market Overview

Aruba Networks Smoked After Earnings; Stock Down 11%

Aruba Networks (NASDAQ: ARUN) released its fiscal Q2 earnings results after the closing bell on Thursday. The company reported a net loss of $11.38 million or $0.11 per share, compared to a loss of $2.83 million or $0.03 per share, in the year ago period.

On an adjusted basis, which is comparable to analysts' consensus, ARUN reported net income of $19.37 million or $0.16 per share, versus $16.34 million or $0.14 per share, in last year's second quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.15.

Revenues for the quarter were up 35 percent to $126.28 million. This compared to Street consensus revenue estimates of $125.19 million. Gross margins for the quarter were up to 71.9 percent compared to 70.5 percent last year.

During Friday's trading session, ARUN shares have lost 11% to $21.96 as investors react to only a slim beat from Aruba. Given the company's high valuation (trailing P/E of 37.59), the market was apparently looking for a little more upside to consensus from ARUN.

Posted-In: Earnings News Intraday Update Movers

 

Related Articles (ARUN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters