Ubiquiti Inc. Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $180.44 million, or $2.98 per share. This compares with $76.29 million, or $1.26 per share, last year.

Excluding items, Ubiquiti Inc. reported adjusted earnings of $181.83 million or $3.00 per share for the period.

Analysts on average had expected the company to earn $1.97 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 34.7% to $664.17 million from $493.00 million last year.

Ubiquiti Inc. earnings at a glance (GAAP) :

-Earnings: $180.44 Mln. vs. $76.29 Mln. last year. -EPS: $2.98 vs. $1.26 last year. -Revenue: $664.17 Mln vs. $493.00 Mln last year.