Here's What Made Extreme Networks Stock Pop Today
Shares of technology company Extreme Networks (NASDAQ: EXTR) popped on Friday after the company provided preliminary results for its upcoming fiscal first quarter of 2021. These results exceeded management's guidance for Q1 on both the top and bottom lines, giving investors something to cheer. As of 10:50 a.m. EDT today, Extreme Networks stock was up 17%.
Management had guided for Q1 revenue of $220 million to $230 million and a loss per share of $0.11 to $0.14 according to generally accepted accounting principles (GAAP). Now the company expects to report Q1 revenue of $233 million to $236 million and a GAAP loss per share of $0.08 to $0.11.
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Source Fool.com
