Arlo Technologies (ARLO) Tops Q2 Earnings and Revenue Estimates

Group 1: Earnings Performance - Arlo Technologies reported quarterly earnings of $0.10 per share, exceeding the Zacks Consensus Estimate of $0.09 per share, and up from $0.06 per share a year ago, representing an earnings surprise of 11.11% [1] - The company achieved revenues of $127.45 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.64%, compared to $115.08 million in the same quarter last year [1] - Over the last four quarters, Arlo Technologies has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] Group 2: Stock Performance and Outlook - Arlo Technologies shares have increased approximately 34% since the beginning of the year, significantly outperforming the S&P 500's gain of 9% [2] - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [2] - The current consensus EPS estimate for the upcoming quarter is $0.11 on revenues of $136.72 million, and for the current fiscal year, it is $0.41 on revenues of $530.11 million [4] Group 3: Industry Context - The Internet - Software industry, to which Arlo Technologies belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable industry outlook [5] - The performance of Arlo Technologies' stock may also be influenced by the overall industry outlook, as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]