Ubiquiti Stock Soars 27% On Strong Q4 Results

(RTTNews) - Ubiquiti Inc. (UI) surged 27.38 percent to $497.50, gaining $106.93 on Friday after reporting robust fourth-quarter results. Revenue climbed to $759.2 million, up $507.5 million a year earlier. Net income rose to $266.7 million compared with $103.8 million in the same quarter last year.

The stock opened at $452.56 and traded between $440.00 and $498.50, against a previous close of $390.57 on the New York Stock Exchange. Volume reached 458,728 shares, significantly higher than the average of 110,896. Ubiquiti now trades at the top end of its 52-week range of $165.50 to $498.50.