Extreme Networks (EXTR) to Report Q1 Earnings: What's in Store?
Extreme Networks EXTR is slated to report fiscal first-quarter 2024 results on Nov 1.
The company’s fiscal first-quarter 2024 revenues are expected to be between $342 million and $352 million. Earnings are expected in the range of 28-33 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $349.95 million, indicating an increase of 17.56% from the year-ago quarter’s reported number.
The consensus mark for fiscal first-quarter earnings has remained unchanged at 32 cents per share in the past 30 days, suggesting a year-over-year increase of 60%.
Extreme Networks, Inc. Price and EPS Surprise
Extreme Networks, Inc. price-eps-surprise | Extreme Networks, Inc. Quote
Extreme Networks beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters and met in the remaining one, the average surprise being 10.40%.
Let’s see how things have shaped up for the upcoming announcement.
Factors to Note
Extreme Networks’ fiscal first-quarter 2024 performance is likely to have benefited from significant demand in its one network and one cloud solutions. This reflects on a strong execution by its field teams, solid partner base, and a competitive differentiated product portfolio.
The company benefits from an expanding clientele that leverages Extreme’s technology to streamline operations and drive business transformation.
Enterprises in different verticals have deployed EXTR’s cloud-managed network and Wi-Fi 6E-ready networks to drive energy savings, improve network performance and fulfill operational needs. These factors are likely to have driven its fiscal first-quarter top line.
An improving supply chain environment and declining lead times are expected to have contributed to Extreme Network’s performance.
Continuous reduction in expedite fees and shipping costs combined with the impact of its pricing actions is expected to have improved Extreme Networks’ margin performance in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Extreme Networks currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy GDDY has an Earnings ESP of +8.11% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
GoDaddy shares have declined 4.2% year to date. GDDY is set to report its third-quarter 2023 results on Nov 2.
Fastly FSLY has an Earnings ESP of +17.24% and a Zacks Rank #2 at present.
Fastly shares have gained 72.4% year to date. FSLY is set to report its third-quarter 2023 results on Nov 1.
Bill Holdings BILL has an Earnings ESP of +4.42% and a Zacks Rank #3 at present.
Bill Holdings shares have declined 17.8% year to date. BILL is set to report its first-quarter fiscal 2024 results on Nov 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report
GoDaddy Inc. (GDDY) : Free Stock Analysis Report
Fastly, Inc. (FSLY) : Free Stock Analysis Report
BILL Holdings, Inc. (BILL) : Free Stock Analysis Report
