Ubiquiti Networks, Inc. (UBNT) stock prices updated...

Ubiquiti Networks, Inc. stock price

Ubiquiti Networks, Inc. latest news:

  • 09/05/2017 16:13:04

    BRIEF-Ubiquiti Networks says board of directors approved $50 mln stock repurchase program

    * Ubiquiti Networks Inc says on September 5, 2017, board of directors of co approved a $50 million stock repurchase program - SEC filing

  • 08/03/2017 11:59:04

    Ubiquiti Networks soars 20% to record, making CEO $600 million richer

    Ubiquiti Networks Inc. shot more than 20% higher in Thursday trading after reporting earnings with a forecast that blew away projections, making Chief Executive Robert Pera more than $600 million richer. The networking company reported fiscal fourth-quarter net income of $60.7 million, or 74 cents a share, on sales of $228.6 million, up from $185.7 million a year ago. After adjustments for stock-based compensation and tax effects, the company claimed earnings of 75 cents a share, up from 69 cents in the year-ago quarter. Analysts on average expected Ubiquiti to report adjusted earnings of 74 cents a share on sales of $219 million, according to FactSet. For the 2018 fiscal year, which began July 1, Ubiquiti predicted its first year of $1 billion in revenue, forecasting earnings of $3.70 to $4.30 a share on sales of $1 billion to $1.15 billion. Analysts had been projecting annual earnings of $3.24 a share on sales of $938.7 million, according to FactSet. Ubiquiti stock moved as high as $67.80 in Thursday morning trading, crushing its previous intraday high of $64.62. Pera, the majority owner of the NBA's Memphis Grizzlies, holds more than 71% of the company's stock, according to FactSet, a stake that increased to more than $3.7 billion with Thursday's intraday gains. Ubiquiti stock had already gained 12.3% so far this year, ahead of the S&P 500 index's 10.7% gain.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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