Ubiquiti reports Q2 EPS $1.38 vs. $1.87 last year

Reports Q2 revenue $464.95M vs. $493.57M last year. The company said, “During the second quarter fiscal 2024, GAAP net income was $82.1 million and non-GAAP net income was $83.3 million. This reflects a decrease in GAAP net income and non-GAAP net income from the comparable prior year period by 26.8% and 26.3%, respectively, primarily driven by lower revenues, higher operating expenses and interest expense and other, net. Second quarter fiscal 2024 GAAP earnings per diluted share was $1.36 and non-GAAP earnings per diluted share was $1.38. This reflects a decrease in GAAP and non-GAAP earnings per diluted share from the comparable prior year period of 26.9% and 26.2%, respectively.”