Barracuda Networks ( (NYSE:CUDA) ) just released its first quarter fiscal 2017 earnings results, posting earnings of $0.10 per share and revenue of $86.7 million.
Currently, CUDA has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
CUDA:
1. Beat earnings estimates. The company posted earnings of 10 cents per share (excluding 5 cents from non-recurring items), beating our Zacks Consensus Estimate of $0.01.
2. Beat revenue estimates. The company saw revenue figures of $86.7 million, surpassing our estimate of $84 million.
3. Recurring subscription revenue grew to $65.3 million, up 20% from $54.3 million in the first quarter of fiscal 2016, representing 75% of total revenue.
4. Barracuda announced that current CFO David Faugno, who has been with the company for a decade, will be stepping down on August 1. He will be replaced by Dustin Driggs, the company’s chief accounting officer and worldwide controller since 2012.
5. CUDA was up $1.71, or 11.03%, to $17.22 as of 4:39 PM ET in after hours trading shortly after its earnings report was released.
Here’s a graph that looks at CUDA’s latest earnings performance:
Barracuda Networks is engaged in designing and delivering security and storage solutions. Its products span three distinct markets, including: 1) content security, 2) networking and application delivery and 3) data storage, protection and disaster recovery. It offers cloud-connected solutions that help its customers address security threats, enhance network performance, and protect and store their data. Barracuda Networks, Inc. is headquartered in Campbell, California.
Check back later for our full analysis on Barracuda’s latestquarterly earnings report!
BARRACUDA NTWRK (CUDA): Free Stock Analysis Report
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