Ubiquiti Inc (UI)

Ubiquiti Inc Stock (UI) dropped by 14.66% from $124.62 to $106.35 in the trading on Friday November 3, 2023. The reason why UI stock down today is due to its latest quarterly performance metrics. Both headline numbers missed analyst estimates with revenue of over $546 million, and net an adjusted profit of $2.17 per share.

• Revenue slightly over $463 million. This was down from the more than $498 million in the same period a year ago. The company attributed the revenue erosion to a decrease in the take from its enterprise technology platform.
• Adjusted net income declined, slipping to $88.9 million from the first quarter 2023 profit of $94 million.

Ubiquiti Inc Stock (UI) dropped by 9.42% from $222.53 to $201.57 in the trading on Friday May 05, 2023. The reason why UI stock down today is due to its third-quarter earnings. Ubiquiti, a provider of networking and communications technology, reported disappointing third-quarter earnings results on May 5, 2023.

• The company's earnings per share (EPS) came in at $1.65, falling short of analyst expectations of $1.88. Revenue for the quarter reached $457.8 million, also missing the consensus estimate of $470.02 million.
• The earnings miss was primarily attributed to weaker-than-expected sales in the company's Enterprise and Service Provider segment, which saw a 10% decline year-over-year. This segment, which caters to businesses and telecommunications providers, is a significant contributor to Ubiquiti's overall revenue.

Ubiquiti Inc Stock (UI) dropped by 6.40% from $303.31 to $283.89 in the trading on Friday February 03, 2023. The reason why UI stock down today is due to its second-quarter earnings of fiscal 2023, ended December 31, 2022.

• Decreased revenue: Revenues for the second quarter were $493.6 million, representing a decrease from the prior quarter of 0.9%. The decrease in revenues over the prior quarter was primarily driven by our Enterprise Technology platform.
• Gross profit: Gross profit was $197.6 million. GAAP gross margin of 40.0%, decreased by 0.5% as compared to the comparable prior year period GAAP gross margin of 40.5%. The decline in gross profit margin as compared to the comparable prior year period was primarily driven by changes in product mix and higher component and shipping costs.