Arris Group: 3Q Earnings Snapshot
SUWANEE, Ga. (AP) _ Arris Group Inc. (ARRS) on Thursday reported third-quarter net income of $47.1 million.
The Suwanee, Georgia-based company said it had net income of 26 cents per share. Earnings, adjusted for one-time gains and costs, came to 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The communications technology company posted revenue of $1.65 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.71 billion.
Arris Group shares have risen 8 percent since the beginning of the year. The stock has decreased almost 1 percent in the last 12 months.