MILPITAS, Calif. (AP) _ Aerohive Networks Inc. (HIVE) on Wednesday reported a loss of $9 million in its first quarter.
The Milpitas, California-based company said it had a loss of 17 cents per share. Losses, adjusted for stock option expense and restructuring costs, came to 8 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The developer of a cloud-managed mobile networking platform posted revenue of $36.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $36.1 million.
In the final minutes of trading on Wednesday, the company's shares hit $3.71. A year ago, they were trading at $5.99.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HIVE at https://www.zacks.com/ap/HIVE
Keywords: Aerohive Networks, Earnings Report