Aerohive Networks: 2Q Earnings Snapshot
MILPITAS, Calif. (AP) _ Aerohive Networks Inc. (HIVE) on Wednesday reported a loss of $2.8 million in its second quarter.
On a per-share basis, the Milpitas, California-based company said it had a loss of 5 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The developer of a cloud-managed mobile networking platform posted revenue of $40.5 million in the period.
In the final minutes of trading on Wednesday, the company’s shares hit $3.88. A year ago, they were trading at $4.66.