F5 Flies Past Estimate, Shares Jump
SEATTLE (TheStreet) -- F5 Networks (FFIV) continued its momentum late Wednesday reporting strong second-quarter results, boosted by sales of hardware.
The Cisco (CSCO) and Juniper (JNPR) rival brought in revenue of $339.6 million, up from $277.6 million in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $335.4 million.
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| F5 reported second-quarter results after market close on Wednesday. |
Excluding items, F5 earned $1.09 a share in the March-ended quarter, compared to 88 cents a share in the same period last year. Wall Street had forecast earnings of $1.07 a share.
Investors responded positively to F5's numbers, pushing the company's shares up $7.80, or 6.3%, to $132.01 on volume of more than 700,000.
The networking specialist said that sales were boosted by its Viprion products, which control how applications are delivered across networks. "During the quarter we continued to see growing demand for both Viprion 2400, our midrange chassis-based application delivery controller (ADC), and Viprion 4400, the high end of our ADC product family," explained F5 CEO John McAdam, in a statement. For its fiscal third quarter ending in June, F5 predicts revenue between $350 million and $355 million, and earnings, excluding items, of $1.12 to $1.14 a share. Analysts are looking for revenue of $353.33 million and earnings of $1.14 a share. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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