Apple specialists Jamf stock rises as Q4 results top expectations, forecast higher as well

Jamf said it is now serving 20.4 million Apple devices.
Written by Tiernan Ray, Senior Contributing Writer

Apple specialty support services company Jamf this afternoon reported Q4 revenue and profit that topped analysts' expectations, and an outlook for the quarter and the year that was higher as well. 

The report sent Jamf shares 3% higher in late trading

Jamf provides services to enterprises who want to activate and maintain Apple Macs and iOS devices, including special boot software to remotely initiate the set-up of the devices with a push of a button.

CEO Dean Hager remarked that Jamf "finished 2020 with high growth across every product, geography, and the top 10 industries we serve, demonstrating the strength and diversity of our platform

Added Hager, "As we look to 2021, we'll continue to expand the breadth and depth of our Apple Enterprise Management platform to enhance our value to customers and accelerate further penetration of Apple in the enterprise."

Revenue in the three months ended in December rose 34%, year over year, to $76.4 million, yielding a net profit of 2 cents a share, excluding some costs.

Analysts had been modeling $70.6 million and a penny per share.

Also: 'Apple is going to make some serious inroads' with the M1 Mac, says Jamf CEO Dean Hager

Jamf said its annualized recurring revenue rose by 37%, year over year, to $285.3 million.

For the current quarter, the company sees revenue of $76 million to $77 million. That compares to consensus for $72.3 million.

For the full year, the company sees revenue in a range of $330 million to $336 million, versus consensus of $315 million.

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