Barracuda Networks Shares Rally After Earnings Beat

Barracuda Networks Inc. shares rallied in the extended session Monday after the cloud-computing company topped Wall Street estimates for the fiscal third quarter. Barracuda shares surged 7.2% to $25.47 after hours. The company reported adjusted third-quarter earnings of 22 cents a share on revenue of $88.8 million. Analysts surveyed by FactSet had forecast earnings of 14 cents a share on revenue of $86.6 million. Barracuda said gross billings increased 13% to $100.4 million from the year-ago quarter, and that its number of active subscribers grew 15% to 309,000.