What's Going On With ADT Shares Thursday?
Portfolio Pulse from Dylan Berman
ADT Inc. (NYSE:ADT) shares are trading lower after the company reiterated its guidance and reported earnings that missed revenue estimates but met EPS expectations. The company reported a 3% year-over-year revenue growth to $1.20 billion, missing the $1.21 billion estimate, and an EPS of 17 cents, in line with expectations. ADT also reiterated its fiscal year 2024 guidance, projecting revenue between $4.8 billion and $5.08 billion and adjusted EPS between 65 cents and 75 cents.
August 01, 2024 | 3:45 pm
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ADT Inc. reported Q2 earnings with revenue of $1.20 billion, missing analyst estimates of $1.21 billion, and EPS of 17 cents, in line with expectations. The company reiterated its fiscal year 2024 guidance. Despite the revenue miss, ADT highlighted strong operating profitability and cash flow generation.
The stock price is likely to go down in the short term due to the revenue miss, despite meeting EPS expectations and reiterating guidance. The market reaction indicates investor disappointment with the revenue figures.
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