Shares of Samsara Inc. (IOT), an IoT company, are rising more than 13% Friday morning after reporting third-quarter profit above analysts’ view.
Excluding one-time items, the company posted profit of $0.04 per share for the third quarter, that beat the average estimate of analysts polled by Thomson-Reuters of $0.01 per share.
Samsara reported a net loss of $45.53 million or $0.08 per share, narrower than $58.56 million or $0.11 per share in the same quarter a year ago.
Quarterly revenue grew 40% to $237.5 million from $169.8 million last year.
IOT, currently at $31.37, has traded in the range of $10.48 – $32.41 in the last 1 year.
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