Why Extreme Networks Stock Is Soaring Today
Extreme Networks (NASDAQ: EXTR) stock is posting big gains in Wednesday's trading following the company's recent quarterly report. The networking specialist's share price was up 13.9% as of 1:30 p.m. ET.
Before the market opened this morning, Extreme Networks published results for the first quarter of its 2025 fiscal year, which ended Sept. 30. The company delivered sales and earnings that beat the market's expectations, and it also issued encouraging forward guidance.
Extreme Networks reported non-GAAP (adjusted) earnings per share of $0.17 on revenue of $269.2 million in fiscal Q1, beating the average analyst estimate's call for per-share earnings of $0.13 on revenue of roughly $261.3 million. Even though revenue declined 23.8% in the quarter, it still came in significantly ahead of Wall Street's target and was up 4.9% on a sequential quarterly basis. The company's annualized recurring revenue for software as a subscription (SaaS) stood at $174.1 million at the end of fiscal Q1, up 23.4% year over year and $4.3% on a sequential quarterly basis.
Source Fool.com
