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Adesto Tech: 2Q Earnings Snapshot

August 6, 2019

SANTA CLARA, Calif. (AP) _ Adesto Technologies Corp. (IOTS) on Tuesday reported a loss of $4.3 million in its second quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 14 cents. Losses, adjusted for amortization costs and stock option expense, came to 3 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The memory products maker posted revenue of $30.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $30 million.

For the current quarter ending in October, Adesto Tech said it expects revenue in the range of $31.5 million to $34.5 million.

Adesto Tech shares have risen 74% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.64, a rise of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IOTS at https://www.zacks.com/ap/IOTS

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