Barracuda Networks Rallies After Profitability Improves

By Sue ChangMarketsMarketWatch Pulse

Shares of Barracuda Networks Inc. jumped in Tuesday's extended session after the security and storage company said it swung to black in the most recent quarter. Barracuda reported fourth-quarter earnings of $3.2 million, or 6 cents a share, compared with a loss of $69.4 million, or $1.30 a share, a year ago. On an adjusted basis, the company earned 15 cents a share. Revenue rose 16% to $83.7 million. Analysts surveyed by FactSet had projected earnings of 8 cents a share on revenue of $80.9 million. Barracuda shares climbed 7.5% in after-hours trading.

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