ADT Corp. (ADT) on Wednesday reported net income that decreased by 27 percent in its fiscal third quarter, and beat analysts' expectations.
The Boca Raton, Florida-based company said earnings dropped to $82 million, or 47 cents per share, from $113 million, or 52 cents per share, in the same quarter a year earlier.
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Earnings, adjusted for non-recurring costs, came to 55 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The company said revenue rose 1.9 percent to $849 million from $833 million in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $848.8 million, according to Zacks.
ADT shares have dropped $7.47, or 18 percent, to $33 since the beginning of the year, while the Standard & Poor's 500 index has risen 6.6 percent. The stock has declined $9.09, or 22 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full ADT report: http://www.zacks.com/ap/ADT