Aerohive Networks Inc. shares dropped in the extended session Thursday after the cloud-networking company forecast an outlook below Wall Street estimates. Aerohive shares fell 21% to $4.45 after hours. The company expects an adjusted third-quarter loss of 6 cents to 7 cents a share, compared with a previous forecast of a loss of 1 cent to 7 cents a share. Analysts surveyed by FactSet had forecast a loss of 4 cents a share. Aerohive also sees an adjusted fourth-quarter loss of 6 cents to 9 cents a share on revenue of $43 million to $45 million. Analysts had estimated break-even bottom-line results on revenue of $50.7 million.
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