Extreme Networks' stock soared 9.00% during intraday trading on Wednesday, following the release of the company's third-quarter fiscal year 2026 financial results.

The networking solutions provider reported quarterly adjusted earnings per share of $0.26, beating the analyst consensus estimate of $0.24. Revenue for the quarter came in at $316.9 million, also surpassing the estimated $311.5 million and representing an 11% increase year-over-year. The company demonstrated strong profitability with an adjusted gross margin of 62.3% and an adjusted operating margin of 15.2%.

Looking ahead, Extreme Networks provided optimistic guidance for the fourth quarter, projecting adjusted earnings per share in the range of $0.28 to $0.30 and revenue between $330 million and $335 million, both exceeding analyst expectations. The better-than-expected financial performance and positive outlook are driving investor optimism and the significant intraday surge in the stock price.