Extreme Networks Inc reports results for the quarter ended in June - Earnings Summary

Extreme Networks

07/08/2024 14:32

* Extreme Networks Inc  EXTR.OQ  reported a quarterly
adjusted
loss of 8 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 33 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 13 cents per share. Wall Street
expected results to range from 11 cents to 14 cents per share.
    * Revenue fell 29.5% to $256.70 million from a year ago;
analysts
expected $253.21 million. 
    * Extreme Networks Inc's reported EPS for the quarter was a
loss
of 42 cents​.
    * The company reported a quarterly loss of $54.2 million.
    * Extreme Networks Inc shares had fallen by 3.7% this
quarter and
lost 26.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "buy"

Wall Street's median 12-month price target for Extreme Networks
Inc is $14.50 
This summary was machine generated from LSEG data August 7 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.13           -0.08          Missed
 Mar. 31 2024      -0.18          -0.19          Missed
 Dec. 31 2023      0.25           0.24           Missed
 Sep. 30 2023      0.32           0.35           Beat