Zebra Technologies Rises In Pre-market On Better-than-expected Q2 Results, Raised Outlook

(RTTNews) - Shares of Zebra Technologies Corporation (ZBRA), a provider of enterprise asset intelligence solutions, were rising more than 4 percent in pre-market on Tuesday to $351.59 after reporting better-than-expected second-quarter results. The company also raised its full-year outlook above the Street expectations.

Excluding one-time items, profit was $165 million or $3.18 per share, that beat the analysts' average estimate of $2.8 per share.

Net profit was 113 million or $2.17 per share for the second quarter, lower than $144 million or $2.78 per share in the same quarter a year ago.

Sales for the quarter, however, slightly increased to $1.217 billion from $1.214 billion in the previous year. The consensus estimate was for $1.18 billion.

For the third quarter, the company expects sales to increase between 25 percent and 28 percent compared to the prior year. Adjusted EPS is expected in the range of $3.00 to $3.30

Analysts expect earnings of $3.06 per share on sales growth of 24.6 percent.

For the full year, Zebra Technologies now expects net sales growth between 4 percent and 7 percent, up from the previous outlook of 1 percent - 5 percent growth. The Street is looking for 4 percent growth in sales. Adjusted EPS is now expected in the range of $12.30 to $12.90, up from $11.25 to $12.25 guided earlier. The consensus estimate stands at $11.92 per share.

Zebra Technologies stock had closed at $335.09, up 2.79 percent on Monday. It has traded in the range of $194.59 - $337.08 in the last 1 year.