<ul><li>Shares of Extreme Networks Inc. closed about 12% higher today after the company posted better-than-expected revenue and earnings for its fiscal first quarter.</li><li>Extreme Networks offers a collection of software tools, including applications for network segmentation and cloud services for optimizing Wi-Fi connectivity in venues.</li><li>Despite a 24% decline in revenue for Extreme Cloud, the company surpassed the consensus estimate, fueled by the growth of its subscription and support revenue segment.</li><li>Extreme Networks expects continued sequential growth in the second quarter and revenue growth for the full year, based on the size and quality of its funnel of opportunities.</li></ul>

Extreme Networks shares soar on lower-than-expected sales decline

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