NetScout Systems Shares Surged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of NetScout Systems (NAS: NTCT) are surging today, up by 22% at the high, after reporting strong second-quarter earnings this morning.
So what: The company's second-quarter revenue tallied up to $72.6 million, which resulted in earnings per share of $0.24. Both figures bested the consensus estimates of $69.9 million in revenue and $0.22 earnings per share.
Now what: NetScout CEO Anil Singhal said, "For the quarter, new business and total bookings increased 30% year over year. All of our major verticals were strong, with financial services and government bookings up substantially." The company is sticking with its previously issued full-year guidance of revenue between $300 million and $315 million, with non-GAAP net income expected between $1.07 and $1.19. It's a solid earnings report that's giving investors plenty of reason to cheer today.
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