Shares of NetScout Systems (NTCT) fell to their lowest level in 3-months as a result of lowered FY17 guidance.
For the second quarter ended Sept 30, the IT services and consulting company reported non-GAAP earnings of $0.39 per share, down from $0.47 for the same quarter last year, but beating the consensus estimate from Capital IQ of $0.35 per share.
Total revenue of $283.3 million was up slightly from $281.8 million last year, and beat the estimated $279.1 million.
However, for FY17, the company lowered its GAAP revenue expectations to $1.16 billion to $1.21 billion from $1.17 billion to $1.22 billion initially. Non-GAAP revenue guidance was left unchanged at $1.2 billion to $1.25 billion.
This falls short of Wall Street estimates of $1.27 billion in revenue.
Non-GAAP earnings for FY17 is expected to be between $1.87 to $2.12 per share compared to the estimated $1.27 per share.