Samsara Rises After Earnings Beat Estimates

(RTTNews) - Shares of Samsara Inc. (IOT), an IoT company, are rising more than 13% Friday morning after reporting third-quarter profit above analysts' view.

Excluding one-time items, the company posted profit of $0.04 per share for the third quarter, that beat the average estimate of analysts polled by Thomson-Reuters of $0.01 per share.

Samsara reported a net loss of $45.53 million or $0.08 per share, narrower than $58.56 million or $0.11 per share in the same quarter a year ago.

Quarterly revenue grew 40% to $237.5 million from $169.8 million last year.

IOT, currently at $31.37, has traded in the range of $10.48 - $32.41 in the last 1 year.