Why Extreme Networks Stock Jumped Today

Shares of Extreme Networks (NASDAQ: EXTR) rose as much as 13.7% on Tuesday, following the data networking company's release of strong results for the first quarter of fiscal year 2022.

Extreme's first-quarter sales rose 14% year over year, landing at $268 million. Adjusted earnings more than doubled over the same period, jumping from $0.09 to $0.21 per diluted share. Your average analyst would have settled for earnings of roughly $0.16 per share on revenue near $257 million. Moreover, order bookings posted 45% year-over-year growth, up from 36% in the previous quarter.

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Source Fool.com