Axon Enterprise Inc (NASDAQ:AXON) shares are rising in after-hours Wednesday after the company beat first-quarter estimates and raised its full-year guidance.
Q1 Earnings: Axon reported first-quarter revenue of $603.63 million, beating analyst estimates of $583.76 million. The company reported first-quarter adjusted earnings of $1.41 per share, beating analyst estimates of $1.27 per share, according to Benzinga Pro.
Total revenue was up 31% year-over-year. Axon’s first-quarter results were led by strength in Software and Services, which generated $263 million in revenue, up 39% year-over-year.
Axon raised its full-year guidance from a range of $2.55 billion to $2.65 billion to a new range of $2.6 billion to $2.7 billion versus estimates of $2.62 billion.
“Strong alignment with our customers, expanding vertical applications and sustained product innovation underpin Axon’s increased outlook for the remainder of the year,” the company said.
AXON Price Action: Axon Enterprise shares were up 4.68% at $630 in extended trading at the time of publication Wednesday, according to Benzinga Pro.
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