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Barracuda Networks Tops Third-Quarter Estimates

Barracuda Networks reported third-quarter results that topped Wall Street forecasts.
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Barracuda Networks (CUDA) shares were higher Tuesday after the company reported a 15% jump in third-quarter active subscribers leading to earnings of 22 cents a share, that was 8 cents ahead of forecasts. Revenue came in at $88.8 million, also above expectations. The security and data solutions provider says the number of active subscribers exceeded 309,000 and dollar-based renewal rate was 90% for the quarter.

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