ARRIS (ARRS) Q3 Earnings Surpass Estimates, Revenues Lag
Zacks Investment Research | Nov 08, 2018 09:04PM ET
ARRIS International plc (NASDAQ:ARRS) reported mixed third-quarter 2018 financial results, wherein the bottom line beat the Zacks Consensus Estimate but the top line missed the same.
Net Income
GAAP net income for the reported quarter came in at $47.1 million or 26 cents per share compared with $88.3 million or 47 cents per share in the year-earlier quarter. The decline was primarily attributable to a fall in the revenues.
Adjusted earnings for the quarter came in at 68 cents per share compared with 80 cents in the year-ago quarter. However, the figure surpassed the Zacks Consensus Estimate of 66 cents.
Revenues
Quarterly GAAP revenues decreased 4.5% year over year to $1,651.2 million. Also, the figure, lagged the Zacks Consensus Estimate of $1,710 million.
Quarter Details
Total operating expenses increased to $412.2 million from about $347 million in the prior-year quarter. Adjusted gross profit was $471.2 million compared with $438.1 million in the prior-year quarter for respective margins of 28.5% and 25.3%.
ARRIS International plc Price, Consensus and EPS Surprise
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