Extreme Networks (EXTR) Misses Q2 EPS by 1c, Misses on Revenue; Offers Weak Q3 Guidance

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Go back to Extreme Networks (EXTR) Misses Q2 EPS by 1c, Misses on Revenue; Offers Weak Q3 Guidance

Extreme Networks (EXTR) slumps on expected 3Q loss, supply chain issues still impacting business

January 31, 2024 2:32 PM EST

Extreme Networks (NASDAQ: EXTR) shares plummeted Wednesday following its latest quarterly earnings report, in which it missed consensus estimates and posted weaker-than-expected third-quarter guidance.

The company reported Q2 EPS of $0.24, $0.01 worse than the analyst estimate of $0.25, while revenue for the quarter came in at $296.4 million, down almost 7% year-on-year and below the consensus estimate of $303.02 million.

EXTR said the networking industry, like much of IT, is exiting the final stage of the COVID-induced era of supply chain constraints, which is still... More