Why Extreme Networks Stock Popped Today

Shares of Extreme Networks (NASDAQ: EXTR) have popped today, up by 7% as of 12:30 p.m. EDT, after the company reported fiscal fourth-quarter earnings. The networking software specialist beat expectations and issued strong guidance.

Revenue in the fiscal fourth quarter came in at $215.2 million, slightly ahead of the $212.7 million in sales that Wall Street was modeling for. That led to adjusted earnings of $0.03 per share, while analysts were looking for an adjusted net loss per share of $0.03. Cloud subscription bookings increased 42% on a sequential basis.

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Source Fool.com