Extreme Networks (EXTR) Skyrockets 28% as Profits More-Than-Triple

Extreme Networks Inc. (NASDAQ:EXTR) is one of the 10 Stocks Notching Impressive Double-Digit Gains.

Extreme Networks soared by 28.15 percent on Wednesday to finish at $21.85 apiece—a seven-month high—as investors gobbled up shares after more-than-tripling its profits in the third quarter of fiscal year 2026.

In an updated report, Extreme Networks Inc. (NASDAQ:EXTR) said that its net income for the third quarter ending March climbed by 206 percent to $10.59 million from $3.46 million in the same period last year.

Data center server racks. Photo by Brett Sayles on Pexels

Meanwhile, net revenues grew by 11 percent to $316.87 million from $284.5 million year-on-year. Of the total, product revenues were accounted for the chunk at $199 million, or 11.8 percent higher than the $178 million year-on-year.

Subscription and support revenues, on the other hand, stood at $117.5 million, or 10 percent higher than the $106 million in the same comparable period.

“Our fifth straight quarter of double-digit growth highlights strong momentum, fueled by disciplined execution, differentiated technology, and rising demand for our AI-powered platform. We’ve fully addressed our current and longer-term supply chain needs, including memory, through targeted sourcing strategies, product redesign, and strategic purchase commitments. These actions position us for continued share gains and growth,” Extreme Networks Inc. (NASDAQ:EXTR) President and CEO Ed Meyercord said.

For the fourth quarter ending June 2026, Extreme Networks Inc. (NASDAQ:EXTR) is targeting revenues of $330 million to $335 million, or an implied growth of 7 percent to 9 percent year-on-year.

The company also expects to swing to an earnings per share of $0.12 to $0.15, from a loss per share of $0.06 in the same period a year earlier.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.