Axon Enterprise Inc on Tuesday revised up its full-year revenue projection, as it cited robust demand for its software products and the newly launched TASER 10.
Axon now forecasts full-year revenue of about $1.55 billion, compared with a previously forecast range of $1.51 billion to $1.53 billion.
The company reported total revenue of $413.6 million in the third quarter, which exceeded a consensus of estimates of $391.1 million. Revenue growth was driven by an expanded presence in Europe after the acquisition of Sky-Hero in June.
Excluding special items, Axon’s earnings per share were reported at $1.02 during the latest quarter. That figure also outstripped market expectations of $0.76 per share.
The shares of Axon Enterprise Inc (AXON) closed 0.23% ($0.49) lower at $216.37 on Nasdaq on Tuesday, as they extended a small loss from the previous market session.
The company’s total market cap now stands at $16.176 billion.
The shares of Axon Enterprise Inc have risen 30.40% so far this year, following another 5.69% gain in 2022.
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