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Update: Ubiquiti Shares Fall Despite Higher Fiscal Q4 Non-GAAP Earnings, Revenue

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(Updates to include the stock movement in the headline and the first paragraph.)

Ubiquiti (UI) shares were down over 8% in Friday trading despite the company reporting higher fiscal Q4 non-GAAP earnings and revenue.

The company reported fiscal Q4 non-GAAP earnings of $4.73 per diluted share, up from $3.54 a year earlier.

A single analyst polled by FactSet expected $4.03.

Revenue for the quarter ended June 30 was $937.3 million, up from $759.2 million a year earlier.

An analyst expected $850.5 million.

The company raised its quarterly dividend to $1 per share from $0.80, payable Sept. 8 to shareholders of record on Aug. 31.

Additionally, Ubiquiti's board extended the expiration date of its $500 million stock repurchase program through Sept. 30, 2027.

Price: $528.74, Change: $-45.13, Percent Change: -7.86%

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