Extreme Networks shares
EXTR,
edged down 5.9%, to $16.47 in after-hours buying and selling Monday after the corporate lowered its second-quarter income outlook.
The inventory, which closed up 2.3%, to $17.52, is down 8.7% over the previous 12 months.
The cloud-networking firm guided for income to be between $294 million and $297 million, down from its earlier outlook within the vary of $312 million and $327 million.
“Our revised second fiscal quarter outlook reflects industry headwinds of channel digestion and elongated sales cycles,” mentioned Chief Executive Ed Meyercord on Monday. “In late Q2, we saw multiple large deals pushing out to future quarters.”
Extreme Networks additionally mentioned it expects annualized subscription and help income to be about $430 million. Gross margin is anticipated to be towards the upper finish of its prior steerage for the quarter. It beforehand forecast gross margin within the quarter to be between 60.2% and 62.2%.
Source web site: www.marketwatch.com
