Ubiquiti Inc. (UI) has reported a notable increase in profit for its second quarter, surpassing the expectations set by Wall Street analysts. The company achieved a net income of $136.80 million, translating to an earnings per share (EPS) of $2.26, compared to $82.12 million, or $1.36 per share, in the same period last year.
On an adjusted basis, which excludes certain items, Ubiquiti's earnings amounted to $138.15 million, or $2.28 per share. This performance exceeded the average analyst forecast of $2.14 per share, which typically omits special items in their calculations.
Revenue for the quarter saw a substantial year-over-year increase, rising 29% to $599.88 million from $464.95 million.
Here’s a summary of Ubiquiti Inc.'s earnings under Generally Accepted Accounting Principles (GAAP):
- Net Income: $136.80 million, compared to $82.12 million the previous year.
- EPS: $2.26, as opposed to last year's $1.36.
- Revenue: $599.88 million, up from $464.95 million a year ago.
