Extreme Networks (EXTR) Reports In-Line Q3 EPS

Extreme Networks (NASDAQ: EXTR) reported Q3 EPS of ($0.14), in-line with the analyst estimate of ($0.14). Revenue for the quarter came in at $209.5 million versus the consensus estimate of $209.94 million.

Business Outlook:

The company's long-term drivers remain intact and we believe that we are well-positioned to capture the market opportunity in cloud-driven networking. Further, bookings during the first month of Q4 were slightly above our internal expectations and are running at a slightly higher level than the first month of Q3. However, the current market environment is fluid for everyone and Extreme Networks' quarterly business is typically back-end loaded, with June being a key month in our Q4 2020 forecast. Because of these factors, we are temporarily suspending our Q4 2020 outlook. We will reassess providing quarterly guidance based on the clarity of macroeconomic recovery at the end of the fourth fiscal quarter.

For earnings history and earnings-related data on Extreme Networks (EXTR) click here.

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