{"id":170099,"date":"2023-01-25T15:26:43","date_gmt":"2023-01-25T15:26:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=170099"},"modified":"2023-01-25T15:26:43","modified_gmt":"2023-01-25T15:26:43","slug":"extreme-networks-plunges-following-cfos-resignation","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/extreme-networks-plunges-following-cfos-resignation\/","title":{"rendered":"Extreme Networks Plunges Following CFO's Resignation"},"content":{"rendered":"
Shares of networking solutions provider Extreme Networks, Inc. (EXTR) are falling more than 20% Wednesday morning after the company said its CFO, Rmi Thomas will resign to join another firm. The company, however had reported better-than-expected results in the second quarter.<\/p>\n
Thomas will remain with Extreme until February 16, the company said.<\/p>\n
Profit in the second quarter increased to $17.9 million or $0.13 per share from $13.3 million or $0.10 per share a year ago.<\/p>\n
Excluding one-time items, earnings were $0.27, that beat the average estimate of analysts polled by Thomson-Reuters of $0.24 per share.<\/p>\n
Quarterly revenue increased 13% year-over-year to $318.35 million. The consensus estimate was for $304.37 million.<\/p>\n
EXTR, currently at $15.44, has traded in the range of $8.49-$21.03 in the last 1 year. <\/p>\n