Aerohive Networks (HIVE) Misses Q3 EPS by 2c

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Go back to Aerohive Networks (HIVE) Misses Q3 EPS by 2c

Aerohive Networks Reports Fiscal Third Quarter 2016 Results

November 2, 2016 4:18 PM EDT

Record Revenue for Software and Subscriptions Business Growing 30% Year over Year

MILPITAS, Calif.--(BUSINESS WIRE)-- Aerohive Networks® (NYSE: HIVE), a leader in cloud networking and enterprise Wi-Fi, today announced financial results for its third fiscal quarter ended September 30, 2016.

Total revenue for the third fiscal quarter of 2016 was $40.4 million, a decrease of 6% compared with $42.8 million for the third quarter of 2015 and a decrease of 15% compared with $47.6 million for the second quarter of 2016. Software subscription and services revenue was $8.7 million, or 21% of total revenue for the quarter, compared with $6.7... More