Smart Phone Accessory Maker Zagg Reports Record Q2

Smart Phone Accessory Maker Zagg

reported a record 2Q on Tuesday sending the stock skyrocketing after hours. Zagg crushed earnings estimates by .14, with EPS at .11. Revenue was up a remarkable 49% year over year at 99.8M. Gross profit was 30.9% (31% of net sales). The stock is up 11% currently after hours. Zagg was considered an ancillary play to capitalize on the Pokemon Go craze, with demand for battery packs and protection for smartphones increased as gamers walked all over town. Zagg purchased top rated battery case maker Mophie in February for $100M. The stock has traded up over 30% in the last month alone. "We are very pleased with our results for the second quarter. The overall business is performing well, with the ZAGG business ahead of expectations and improved momentum in the mophie business," said Randy Hales, CEO of Zagg Inc. Zacks Equity Research was bullish on the stock and last month predicted that it could triple.