Cloud company, Extreme Networks (NASDAQ: EXTR) has provided an update on its Q1 2021 earnings outlook sending its stock price surging premarket.
The company said that it now expects to report first-quarter 2021 revenues of $233 to $236 million, up 9% from the previous quarter. Its previous first-quarter guidance was for revenue between $220 to $230 million.
Extreme said it also now expects to report a non-GAAP EPS of $0.05 to $0.08 compared to its previous guidance of $0.01 to $0.04.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
As a result of the upgraded guidance, the company said it has repaid $20 million of the $55 million from its revolving credit facility.
Extreme’s Chief Financial Officer, Remi Thomas said that “improving business trends and continued cost and expense control drove solid operating leverage, and in turn strong cash flow. This allowed us to repay $20 million of our $55 million revolving credit facility during the quarter and reduce our net debt by approximately $24 million sequentially .”
The increase was also put down to strong bookings trends and the simplicity of its products.
The company’s share price has jumped 16.55% premarket to $4.79 per share after closing Thursday’s session at $4.11. Its stock price has risen 43.71% in the last six months.
PEOPLE WHO READ THIS ALSO VIEWED:
