Barracuda Networks Shares Plunge After Earnings

Barracuda Networks shares plummeted in after-hours trading Thursday despite earnings coming in better than analysts' expectations. The storage company earned 9 cents per share on an adjusted basis with revenues of $78 million, according to a Thursday afternoon report; analysts on average expected earnings of 8 cents a share on sales of $77.2 million. After closing with a 1% gain at $39.08, Barracuda shares declined more than 15% in late trading, falling near $33 a share.