Shares of Control4 Corp. (CTRL, Financial) jumped more than 20% after reporting second quarter earnings per share of 42 cents on revenue of $69.2 million, representing 12.9% year-over-year growth. The company beat earnings estimates by 10 cents and revenue estimates by $1.37 million.
Martin Plaehn, the company's chairman and CEO, said: “We continue to strengthen our product offerings via new capabilities including Intercom Anywhere and enhanced When>>Then Personalization – both part of our growing 4Sight consumer cloud service. Additionally, our recently introduced Certified Showroom Program and Production Builder Program are gaining visibility and operational momentum which we expect to contribute positively to our market presence and future revenue growth.”
The company expects revenue in the third quarter to be between $70.5 million and $72.5 million. Also, it expects non-GAAP net income in the range of $9.5 million and $10.5 million or 34 to 38 cents per diluted share. For the full year 2018, revenue is expected to be between $273 million and $276 million. Control4 expects non-GAAP net income to be between $38.0 million and $40.0 million or between $1.38 and $1.45 per diluted share.
Shares of DISH Network Corp. (DISH, Financial) gained almost 10% after reporting second quarter earnings per share of 83 cents on revenue of $3.46 billion, representing 4.9% year-over-year growth. The company beat earnings estimates by 12 cents and revenue estimates by $20 million.
At the end of the second quarter, DISH TV subscribers totaled 10.653 million and Sling TV subscribers were 2.344 million. The total 12.997 million Pay-TV subscribers is compared to 13.332 million Pay-TV subscribers at the end of the same trimester of 2017.
Net Pay-TV subscribers declined by about 151,000 subscribers in the quarter, compared to a decline of approximately 196,000. Further, net DISH TV subscribers declined 192,000 and Sling TV subscribers increased 41,000.
Tesaro Inc. (TSRO, Financial) traded lower on Friday after reporting second-quarter earnings per share of $3.04 on revenue of $57.21 million, representing 94.2% year-over-year growth.Â
Disclosure: The author holds no position in any stocks mentioned.
