Taser Maker Axon Enterprise's Stock Soars on Strong Earnings, Outlook
Axon Enterprise posted fourth-quarter earnings that topped analysts' estimates.
The Taser maker also offered a strong outlook on demand for its defense products.
Axon shares soared following the results and have nearly doubled in value over the last year.Axon Enterprise (AXON) shares soared Wednesday on the company's better-than-expected earnings and strong outlook on growing demand for its Taser 10 weapon, portable cameras, and premium subscriptions.
The defense products manufacturer posted adjusted fourth-quarter earnings per share (EPS) of $2.08, above analysts' estimates compiled by Visible Alpha. Revenue jumped 33.6% year-over-year to $575.1 million, also more than anticipated.
Taser revenue was up 37.1% to $221.2 million, while revenue from Axon's Cloud & Services segment jumped 40.6% to $230.3 million, and Sensors & Other revenue grew 17.5% to $123.6 million.
For the full year, Axon said it anticipates adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $640 million to $670 million and sales of $2.55 billion to $2.65 billion. Analysts had been looking for adjusted EBITDA of $654 million and sales of $2.57 billion.
Shares of Axon Enterprise were up nearly 17% in Wednesday afternoon trading and have nearly doubled in value over the last year.
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