IOT Stock Jumps As Samsara Earnings Top Estimates – Investor’s Business Daily

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Samsara (IOT) on Thursday reported third quarter earnings and revenue that topped Wall Street targets while the company’s revenue guidance for IOT stock came in above expectations.



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The company released the Samsara earnings report after the market close. On the stock market today, IOT stock jumped more than 12% to 31.01 in extended trading.

For the quarter ended Oct. 31, San Francisco-based Samsara reported profit of 4 cents per share on an adjusted basis vs. a 2-cent loss a year earlier. Meanwhile, revenue rose 40% to $237.5 million, the company said.

Analysts expected Samsara to record a 1-cent profit on sales of $224.7 million. Annual recurring revenue from subscriptions rose 39% to $1 billion, topping estimates of $986.4 million.

IOT Stock: Revenue Outlook Tops Views

For the current quarter, Samsara said it expects revenue of $258 million at the midpoint of its outlook. IOT stock analysts had projected revenue of $250.4 million.

Heading into the Samsara earnings report, the company owned a Relative Strength Rating of 98 out of a best-possible 99, according to IBD Stock Checkup. Also, IOT stock has forged a cup base.

Founded in 2015, Samsara provides sensors and cloud-based software to manage vehicle fleets and industrial operations. Further, its Internet of Things platform provides GPS tracking for trucks, and monitors routes and vehicle performance.

Follow Reinhardt Krause on X, formerly called Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.

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