Aerohive Networks: 3Q Earnings Snapshot
MILPITAS, Calif. (AP) _ Aerohive Networks Inc. (HIVE) on Wednesday reported a loss of $2.4 million in its third quarter.
The Milpitas, California-based company said it had a loss of 4 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The developer of a cloud-managed mobile networking platform posted revenue of $40.6 million in the period.
In the final minutes of trading on Wednesday, the company's shares hit $3.83. A year ago, they were trading at $3.96.