Why NetScout Systems Shares Jumped
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) jumped by as much as 11% today, after the company reported second quarter earnings.
So what: Revenue increased 16% to $84.5 million, handily topping the market's forecast of $81.3 million. The company also easily beat the bottom line consensus of $0.26 per share by posting adjusted profits of $0.34 per share.
Now what: CEO Anil Singhal said the company grew total new business bookings by 15% despite a challenging macro environment. The first half of its fiscal year has been strong, so the company is reaffirming its fiscal 2013 guidance. NetScout expects revenue for the year to be between $340 million and $355 million. It's also raising the low-end of its profit guidance, and now expects GAAP earnings per share to be in the range of $0.94 to $1.
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The article Why NetScout Systems Shares Jumped originally appeared on Fool.com.Evan Niu, CFA has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.