Why Extreme Networks Stock Tanked Today

Shares of Extreme Networks (NASDAQ: EXTR) have tanked today, down by 10% as of noon EST, after the company reported fiscal second-quarter earnings results. The enterprise networking specialist also said that Chief Revenue and Services Officer Robert Gault would be departing.

Revenue in the fiscal second quarter increased 6% to $267.5 million, which was shy of the $273.2 million in sales analysts were modeling for. That all translated into adjusted earnings per share of $0.13, which was right on target with the consensus estimate.

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Source Fool.com