EXTR - Extreme Networks Slumps After Disappointing Q2 Sales Performance Dull Outlook | Benzinga
Extreme Networks, Inc. (NASDAQ:EXTR) shares are trading lower on Wednesday.
The company reported a second-quarter FY24 revenue decline of 6.9% year over year to $296.37 million, beating the consensus of $295.61 million.
Product revenue slumped 16.5% to $186.6 million. Subscription and support revenue grew 15.7% Y/Y to $109.8 million. SaaS ARR was $158.0 million, up 37.4% year-over-year.
Adjusted EPS of 24 cents missed the consensus estimate of 25 cents.
The adjusted gross margin was 62.5%, compared to 58.5% in the prior year’s ...