Extreme Networks Inc. recently announced its earnings for the second quarter, which demonstrated a decrease compared to the same period last year and fell short of Wall Street expectations.
The company's net earnings for this quarter were located at $3.988 million, translating to $0.03 per share. In comparison, the previous year's second quarter reported greater figures, with earnings of $17.931 million or $0.13 per share.
When one accounts for specific exclusions, Extreme Networks Inc. made a statement of adjusted earnings, reaching $31.475 million, or $0.24 per share, for the respective period.
According to the data organized by Thomson Reuters, the average projection by analysts foresaw the company earning $0.25 per share. It's important to note that these estimates usually leave out certain special items.
The revenue of the company for this quarter witnessed a 6.9% drop, plunging to $296.377 million from the prior year's $318.348 million.
To glance at Extreme Networks Inc.'s earnings according to Generally Accepted Accounting Principles (GAAP):
- The earnings of Q2 stood at $3.988 million, a decrease from last year's $17.931 million.
- The earning per share (EPS) for Q2 was $0.03, falling from the previous year's $0.13. Analysts had estimated an EPS of $0.25.
- The company's revenue for Q2 fell to $296.377 million from the $318.348 million reported last year.
