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Barracuda Networks tops expectations with Q3 results

Published 01/08/2018, 04:31 PM
© Reuters.  Barracuda Networks tops expectations with Q3 results
  • Barracuda Networks (NYSE:CUDA) cleared analysts' hurdles with Q3 earnings where revenues grew 7% and the company boosted net income.
  • Earnings on a GAAP basis were $7.8M vs. a year-ago $1.8M; non-GAAP earnings were $11.6M.
  • While total revenue grew 7%, subscription revenue was up 13% to $77.3M, while appliance revenue fell to $17.5M from $20.5M.
  • Gross billings rose to $110.6M from a year-ago $100.4M. Core product billings were up 24% to $76.6M; excluding Sonian (acquired during the quarter), core product billings rose 22%.
  • Active subscribers rose 16% to more than 360,000.
  • En route to going private via Thoma Bravo, the company's not holding a conference call or providing guidance. That deal has been expected to be completed before the end of the fiscal year on Feb. 28.
  • Press release
  • Now read: Locking In Qualcomm (NASDAQ:QCOM) Gains


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