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Barracuda meets 2Q profit forecasts

CAMPBELL, Calif. (AP) _ Barracuda Networks Inc. (CUDA) on Tuesday reported fiscal second-quarter earnings of $1.6 million.

The Campbell, California-based company said it had profit of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 17 cents per share.

The results matched Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 17 cents per share.

The cloud-based security and storage services provider posted revenue of $94.3 million in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $93.5 million.

Barracuda shares have risen 20 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.71, an increase of almost 7 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUDA at https://www.zacks.com/ap/CUDA