(RTTNews) - Extreme Networks, Inc. (EXTR), a cloud networking company, Tuesday said that it has lowered its outlook for the second quarter, on multiple large deals pushing out to future quarters.
Quarterly revenues are now expected to be around $294 to $297 million lower than the previous guidance of $312 to $327 million.
"Our revised second fiscal quarter outlook reflects industry headwinds of channel digestion and elongated sales cycles. In late Q2, we saw multiple large deals pushing out to future quarters," stated Ed Meyercord, CEO of Extreme.
The complete second quarter results are scheduled to be reported on January 31.
On Monday, Extreme Networks shares are trading at $17.52, up 2.28% on the Nasdaq.
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