Market Buzz: NetScout Systems Outlook Disappoints
- October 16th, 2023
- 745 views
NetScout Systems, Inc. (Nasdaq: NTCT), a network management and cybersecurity company, disclosed its expectations for the second quarter of fiscal 2024, with adjusted earnings per share (EPS) projected to fall within the range of $0.60 to $0.62, surpassing the consensus EPS estimate of $0.54. In contrast, the company's revenue outlook for the period is in the range of $195 million to $197 million, significantly below analysts' projections of $223.56 million.
Additionally, NetScout is revising its full-year fiscal 2024 projections, lowering both revenue and adjusted EPS expectations. The new guidance for revenue is in the range of $840 million to $860 million, as opposed to the prior outlook range of $915 million to $945 million. For adjusted EPS, the revised range is $2.00 to $2.20, down from the prior outlook of $2.20 to $2.32, which contrasts with the consensus EPS estimate of $2.26 on revenue of $926.28 million.
In after-hours, $NTCT was trading at $22.70, down $4.89 (-17.72%).
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