Axon Enterprise Stock Surges on Strong Q3 Results and Raised Guidance
Axon Enterprise's stock soared after the company reported impressive earnings and increased its annual revenue outlook, driven by robust demand for its products.
- Axon reported third-quarter earnings of $1.45 per share, surpassing expectations of $1.20, with revenue reaching $544.3 million.
- The company's shares rose nearly 29% on Friday, hitting a new 52-week high and more than doubling in value year-to-date.
- Taser sales increased by 36%, while software and services sales rose by 29%, reflecting strong demand across Axon's product range.
- Axon upgraded its full-year revenue forecast to $2.07 billion, up from previous estimates, and anticipates adjusted EBITDA of $510 million.
- The company is expanding its product offerings, including a new artificial intelligence initiative, and continues to navigate regulatory challenges.
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