Aruba Networks Soars After Q2 Results
Shares of Aruba Networks (NASDAQ: ARUN) were among the leaders on the Nasdaq on Friday after the company reported strong fiscal second-quarter earnings on Thursday.
The company is a provider of next-generation network access solutions for mobile enterprise networks. The stock surged more than 21 percent on Friday and was last trading at $25.27 late in the session.
"We delivered another strong topline quarter and achieved our fifteenth consecutive quarter of record revenue. Our differentiated approach and value proposition continue to resonate with customers," President and CEO Dominic Orr said in a statement.
Aruba Networks reported net income of $4.99 million or $0.04 per share, compared to a loss of $11.38 million or $0.11 per share, in last year's corresponding period.
On an adjusted basis, the company reported net income of $27.34 million or $0.22 per share, versus $19.37 million or $0.16 per share, in last year's second-quarter. This beat analysts' consensus estimates of $0.19 per share.
Revenue in the period was up 23 percent to $155.36 million from $126.28 million last year. This also beat analysts' consensus of $151.97 million.
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