Axon Enterprise Stock Slips After Q2 Earnings

Axon Enterprise Inc (NASDAQ: AXON ) reported financial results for the second quarter after the market close on Wednesday. Here’s a look at the key metrics from the print. Axon Enterprise stock is taking a hit today. Why is AXON stock dropping? Axon Enterprise Q2 Highlights Axon posted second-quarter revenue of $904.39 million, beating analyst estimates of $876.46 million, according to Pro. The company reported second-quarter adjusted earnings of $1.88 per share, beating estimates of $1.85 per share. Total revenue was up 35% year-over-year as demand “remained robust” among both new and existing customers. Software and Services revenue increased 36% year-over-year to $398 million and Connected Devices revenue grew 35% year-over-year to $507 million. Annual Recurring Revenue also increased 39% year-over-year to $1.6 billion, primarily driven by growing demand for premi...