Ubiquiti Inc. (NYSE:UI) shares are trading lower premarket Friday after the company reported fourth-quarter results.
Revenues grew 3.3% Y/Y to $507.5 million, missing the consensus of $511.62 million. Revenue growth was driven by increased revenue from the Enterprise Technology platform, while revenue from the Service Provider Technology platform declined Y/Y.
In the quarter, GAAP gross profit stood at $204.1 million, ...