Axon Enterprise (AXON) Q2 Earnings and Revenues Top Estimates

Company Performance - Axon Enterprise reported quarterly earnings of $1.20 per share, exceeding the Zacks Consensus Estimate of $1.06 per share, and up from $1.11 per share a year ago, representing an earnings surprise of 13.21% [1] - The company achieved revenues of $504.1 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5.70%, and an increase from $374.61 million year-over-year [1] - Over the last four quarters, Axon has consistently surpassed consensus EPS and revenue estimates [1] Future Outlook - The stock's immediate price movement will largely depend on management's commentary during the earnings call and future earnings expectations [2] - Current consensus EPS estimate for the upcoming quarter is $1.18 on revenues of $511.22 million, and for the current fiscal year, it is $4.64 on revenues of $1.98 billion [4] - The estimate revisions trend for Axon is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Security and Safety Services industry, to which Axon belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Applied DNA Sciences, is expected to report a quarterly loss of $0.64 per share, reflecting a year-over-year change of +86.7%, with revenues projected to decline by 67.5% from the previous year [5]