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Barracuda shares jump after beating earnings estimates

Ashton Eaton
Getty Images
Ashton Eaton

Barracuda Network's stock leaped almost 19 percent Friday after the company announced higher-than-expected earnings

The firm reported earnings per share of 20 cents in its first quarter fiscal report, well above Wall Street estimates for 11 cents a share, according to Reuters.

Barracuda revenue grew 11 percent to $86.7 million in a year-over-year comparison.

"Our performance in the quarter was largely driven by execution on our strategy, which includes focusing our efforts to be the leader in security and data protection for our customers and expanding our routes to market," said CEO BJ Jenkins in a statement.

However, Barracuda shares have struggled in the past 12 months, with shares falling about 52 percent.

Barracuda's 12-month performance: