Extreme Networks expects revenue above estimates; shares jump
July 21 (Reuters) - Network-gear maker Extreme Networks estimated fourth-quarter adjusted profit and revenue above analysts' expectations, helped mainly by new business in North America.
Shares in Extreme Networks jumped 13 percent to $4.94 in premarket trading.
The company said it expected a profit of 6-8 cents per share, excluding items, and adjusted revenue of between $154 million and $156 million for the three months ended June 30.
Analysts on average had expected earnings of 3 cents per share on revenue of $146.7 million, according to Thomson Reuters I/B/E/S. (Reporting by Abhirup Roy in Bangalore; Editing by Maju Samuel)