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TYSONS, Va. (AP) _ Alarm.com Holdings Inc. (ALRM) on Wednesday reported second-quarter net income of $17 million.
The Tysons, Virginia-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The security service company posted revenue of $141.6 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $119.1 million.
Alarm.com expects full-year earnings in the range of $1.46 to $1.47 per share, with revenue in the range of $552.7 million to $563.1 million.
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Alarm.com shares have risen 45% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.17, an increase of 33% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALRM at https://www.zacks.com/ap/ALRM
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