ADT Reports Q1 Revenues Up
♦ ADT Reports Q1 Revenues up 18 per cent to $US1.545 billion compared to last year, with a net gain income of $52 million compared to a net loss of $48 million over 2021, and EBITDA of $601 million.
Projecting these good numbers, ADT expects 2022 revenues between $6.2 billion and $6.4 billion, with EBITDA between $2.335 billion and $2.435 billion, and cash flow between $550 million and $625 million.
“The momentum we’ve built in our business is producing results, illustrated by strong improvements to our revenue and earnings, growth in subscribers, and record-high customer retention,” says ADT President and CEO Jim DeVries.
ADT grew RMR 5 per cent in Q1, though it reported an attrition rate of 12.9 per cent. The company’s also said techs had installed 60,000 Nest Doorbells since launching its partnership with Google.
In April, ADT began rolling out its mesh Wi-Fi, with plans to launch Google indoor and outdoor cameras by the end of Q3, 2022.
ADT Corporation, is an American company that provides residential, small and large business electronic security, fire protection, and other related alarm monitoring services throughout the United States. It’s move into IoT through partnerships with key digital players makes it a business to watch.
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