Extreme Networks (EXTR) shares were down more than 15% in early Wednesday trading despite the company reporting fiscal fourth-quarter results that topped analysts' expectations.

The company reported fiscal Q4 non-GAAP earnings of $0.32 per diluted share, up from $0.25 a year earlier.

Analysts polled by FactSet expected $0.29.

Revenue for the quarter ended June 30 was $338.6 million, compared with $307 million a year earlier.

Analysts expected $332.5 million.

The company expects fiscal Q1 non-GAAP EPS of $0.27 to $0.29 on revenue of $334 million to $339 million. Analysts expect $0.28 in non-GAAP EPS on revenue of $333.2 million.

For fiscal 2027, Extreme Networks targets non-GAAP EPS of $1.28 to $1.33 and revenue of $1.38 billion to $1.40 billion. Analysts expect $1.31 in non-GAAP EPS on revenue of $1.39 billion.

Price: 27.44, Change: -4.90, Percent Change: -15.15