09:17 AM EDT, 10/30/2024 (MT Newswires) -- Extreme Networks ( EXTR ) reported fiscal Q1 non-GAAP net income Wednesday of $0.17 per diluted share, down from $0.35 a year earlier.

Analysts polled by Capital IQ expected $0.13.

Total net revenue for the quarter ended Sept. 30 was $269.2 million, down from $353.1 million a year earlier.

Analysts surveyed by Capital IQ expected $261.3 million.

The company said it expects fiscal Q2 non-GAAP EPS of $0.16 to $0.20 on revenue of $273 million to $283 million. Analysts surveyed by Capital IQ expect $0.18 and $278.7 million, respectively.

The company said it now expects fiscal 2025 revenue of $1.12 billion to $1.14 billion. That compares with $1.11 billion to $1.14 billion previously. Analysts polled by Capital IQ expect $1.12 billion.

Shares of Extreme Networks ( EXTR ) were up 15% in recent premarket activity Wednesday.

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