(Reuters) – Barcode scanner maker Zebra Technologies beat first-quarter revenue and profit estimates on Tuesday and forecast a smaller-than-expected decline in second-quarter sales on the back of stabilizing demand for its products. The Lincolnshire, Illinois-based company’s shares rose 5% in early trading. The company, whose customers include the U.S. Postal Service and pharmacy chain Walgreens […]
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Zebra Technologies first-quarter results beat estimates
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(Reuters) – Barcode scanner maker Zebra Technologies beat first-quarter revenue and profit estimates on Tuesday and forecast a smaller-than-expected decline in second-quarter sales on the back of stabilizing demand for its products.
The Lincolnshire, Illinois-based company’s shares rose 5% in early trading.
The company, whose customers include the U.S. Postal Service and pharmacy chain Walgreens Boots Alliance, said the demand for its software and hardware solutions is improving.
Zebra Technologies forecast second-quarter net sales to fall between 1% and 5% from a year earlier, compared with estimates of a decline of about 6%, according to LSEG data.
First-quarter operating expenses fell to $404 million from $442 million, primarily due to the impact of restructuring actions, the company said.
Zebra Technologies reported quarterly revenue of $1.18 billion, beating estimates of $1.15 billion.
On an adjusted basis, the company earned $2.84 per share, ahead of estimates of $2.45.
(Reporting by Priyanka G in Bengaluru)