Why NetScout Systems Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
NetScout Systems Inc (NASDAQ:NTCT) shares dropped by 23% after the company posted its Q2 FY24 preliminary results and lowered its FY24 outlook. The company's Q2 revenue is expected to be $195 million-$197 million, lower than the consensus of $223.56 million. The FY24 outlook was also reduced due to industry and economic headwinds. The company is taking initiatives to manage costs and align spending with the current environment.
October 17, 2023 | 9:55 am
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NetScout Systems' shares have dropped significantly due to lower than expected Q2 FY24 preliminary results and a reduced FY24 outlook. The company is taking steps to manage costs and align spending.
NetScout Systems' shares have dropped due to lower than expected Q2 FY24 preliminary results and a reduced FY24 outlook. This is a direct result of industry and economic headwinds, which have led to a slowdown in order conversion rate. The company is taking steps to manage costs and align spending with the current environment, which is expected to reduce the negative impact on its FY24 adjusted EPS outlook.
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