ADT reported a quarterly loss and forecast 2019 revenue below Wall Street estimates amid intensifying competition from fast-growing do-it-yourself home security offerings.
ADT reported a quarterly loss and forecast 2019 revenue and EBITDA below Wall Street estimates amid intensifying competition from fast-growing do-it-yourself home security offerings such as Google Nest.Security products such as Google Nest, SimpliSafe and Frontpoint can be self-installed, have a lower monthly fee and may or may not be monitored by a third party.
ADT's 2019 free cash flow growth forecast of 6 percent to 13 percent was a sharp deceleration from the more than 33 percent growth in 2018, as the company invests $40 million this year in initiatives such as branding to counter competition and hiring staff to expand its business. ADT has expanded its home security and commercial security offering through acquisitions over the past few months.
ADT said it expects 2019 revenue in a range of $4.90 billion to $5.10 billion, largely below the average analyst estimate of $4.92 billion, according to IBES data from Refinitiv.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
10 Cities Where You Can Own A Home For About $1,000 A MonthHere are 10 metropolitan areas around the country where you can own a home for about $1,000 a month.
Read more »
10 Cities Where You Can Own A Home For About $1,000 A MonthWhile housing affordability continues to be a concern across the country, there are some metropolitan areas where homes are a relative bargain
Read more »
10 promising work-from-home jobs that pay up to $118,000—and offer 4-day workweeksThese 10 jobs let you work from home, pay up to $118,000, and offer 4-day workweeks. via CNBCMakeIt
Read more »
5 places to buy a luxury home in 2019 if you want to get a dealA leading global real estate consultancy has picked the high-end neighborhoods set to outperform the rest.
Read more »
10 Cities Where You Can Own A Home For About $1,000 A MonthWhile housing affordability continues to be a concern across the country, here are 5 cities where you can own a home for about $1,000 a month:
Read more »
12 kitchen and bath trends that will be huge in 2020You'll want these for your kitchen and bathroom in the next year.
Read more »
10 most desirable work-from-home jobs that pay up to $118,000—and offer 4-day workweeks10 most desirable work-from-home jobs that pay up to $118,000—and offer 4-day workweeks via CNBCMakeIt
Read more »
San Francisco could be home to thousands of new millionaires by the end of 2019, and it's sparking a 'housing madness' in the already wildly expensive cityIf Bay Area tech start-ups like Pinterest and Uber go public in 2019, San Francisco could see a massive increase in millionaires — and housing prices.
Read more »
Mortgage rates throttle higher, snapping a 4-week streak of declinesRates for home loans rose for only the second time in 2019, but are likely to fall from here.
Read more »
Israel razes Palestinian's home over West Bank shootingIsraeli forces have demolished the home of a Palestinian man who was accused of killing two Israeli soldiers in an armed attack
Read more »