By Chris Wack
NetScout Systems shares were up 14%, to $25.54, after the company swung to third-quarter earnings compared with the same quarter last year.
The Westford, Mass., technology company reported quarterly earnings of $48.8 million, or 67 cents a share, compared with a loss of $132.6 million, or $1.87 a share, in the same quarter a year earlier.
Adjusted earnings for the quarter were 94 cents a share.
Revenue for the quarter was $252 million, compared with last year's $218.1 million.
The company said its bottom line was supported by certain customer orders received in the third quarter that were anticipated to be received in its fourth quarter.
NetScout is expecting revenue for fiscal 2025 of $810 million to $820 million.
The company is also expecting a 2025 loss of $5.21 to $5.10 a share, primarily attributable to goodwill impairment and restructuring charges taken in the first nine months of fiscal 2025.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 30, 2025 13:19 ET (18:19 GMT)
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