NetScout Systems Inc. Up 13.43% To $35.90 After Earnings Beat

NetScout Systems Inc. (NTCT) said before open Thursday that it earned $1 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $269.5 million, beating estimates by $29.7 million.

In the same quarter a year ago, the company earned $0.89 per share on revenue of $262.2 million. The company reported revenue on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

The stock is up 13.43% to $35.90 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Sell on the stock prior to the report.

Trading in the five days leading up to the report earned NetScout Systems Inc. a Bullish Sentiment Rank from InvestorsObserver.

NetScout Systems Inc. has performed a little above average during the past few months. Before the report, NetScout Systems Inc. received a Long-Term Technical Rank by InvestorsObserver of 60, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $38.02 on December 1, 2022 and set a 52-week low on September 6, 2022 at $28.69.

NetScout Systems Inc is a provider of service assurance and cybersecurity solutions to enterprise and government networks. It bases its solutions on proprietary adaptive service intelligence technology, which helps customers monitor and identify performance issues and provides insight into network-based security threats. These solutions also deliver real-time and historical information, which provides insight to restore service and understand the quality of user experience. The company derives revenue primarily from the sale of network management tools and security solutions. Its geographical regions include USA, Europe, Asia, and Rest of the World.