Aerohive Networks (HIVE) Posts Wider-than-Expected Q1 Loss, Sales Miss
Aerohive Networks (NYSE: HIVE) reported Q1 EPS of ($0.35), $0.09 worse than the analyst estimate of ($0.26). Revenue for the quarter came in at $25.8 million versus the consensus estimate of $26.8 million.
“Our first quarter results were in-line with the revised guidance range we provided on April 13. We remain committed to improving our execution and taking advantage of the large and growing market opportunity in cloud-managed mobile networking,” stated David Flynn, President and Chief Executive Officer. “We are optimistic about the potential for growth from the E-rate program, our new product offerings and new sales leadership. We are confident in our long-term strategy and are focused on clearly differentiating ourselves with scalable, flexible, and cost-effective solutions that enable our customers to succeed.”
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