Ubiquiti Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Ubiquiti Inc. (UI) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $136.80 million, or $2.26 per share. This compares with $82.12 million, or $1.36 per share, last year.

Excluding items, Ubiquiti Inc. reported adjusted earnings of $138.15 million or $2.28 per share for the period.

Analysts on average had expected the company to earn $2.14 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 29.0% to $599.88 million from $464.95 million last year.

Ubiquiti Inc. earnings at a glance (GAAP) :

-Earnings: $136.80 Mln. vs. $82.12 Mln. last year. -EPS: $2.26 vs. $1.36 last year. -Revenue: $599.88 Mln vs. $464.95 Mln last year.