Meru Networks (MERU) Posts Quarterly Earnings Results, Beats Expectations By $0.31 EPS
Meru Networks (NASDAQ:MERU) announced its earnings results on Monday. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.31, AnalystRatings.Net reports. The company had revenue of $30.20 million for the quarter, compared to the consensus estimate of $27.04 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis.
Shares of Meru Networks (NASDAQ:MERU) traded up 1.39% on Monday, hitting $4.39. The stock had a trading volume of 394,150 shares. Meru Networks has a 52-week low of $2.93 and a 52-week high of $6.96. The stock has a 50-day moving average of $4.37 and a 200-day moving average of $3.74. The company’s market cap is $99.4 million.
Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.
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