Alarm.com tops Street 2Q forecasts

TYSONS, Va. (AP) _ Alarm.com Holdings Inc. (ALRM) on Tuesday reported second-quarter profit of $9.9 million.

The Tysons, Virginia-based company said it had profit of 20 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 33 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The security service company posted revenue of $86 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $81.3 million.

Alarm.com expects full-year earnings in the range of 96 cents to 98 cents per share, with revenue in the range of $326.3 million to $327.8 million.

Alarm.com shares have risen 42 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39.51, a rise of 34 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALRM at https://www.zacks.com/ap/ALRM

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Keywords: Alarm.com Holdings, Earnings Report