F5 Meets Expecations, Sees Cautious Spending
SEATTLE (TheStreet) -- F5 Networks (FFIV) shrugged off an uncertain spending climate to meet analysts' estimates in its third-quarter results, released after the closing bell on Wednesday.
The Cisco (CSCO) and Juniper (JNPR) rival earned $1.14 a share on $352.6 million of revenue, up from 97 cents a share and $290.7 million in the prior year's quarter. Analysts polled by Thomson Reuters expected earnings of $1.14 per share on $352.86 million in revenue for the quarter.
"During the third quarter, F5's revenue and earnings continued to grow sequentially and year over year despite a more cautious spending environment," explained F5 CEO John McAdam, in a statement released after market close. "Overall, revenue growth slowed in Q3, but revenue by region was generally consistent with historical patterns."
McAdam explained that the Americas accounted for 57% of F5's total revenue, with the Asia-Pacific and Japan (APJ) region making up 22% and Europe, the Middle East and Africa (EMEA) accounting for the remaining 21%.
F5, however, acknowledged the cautious spending environment in its fourth-quarter guidance, predicting revenue between $360 million and $370 million. Excluding items, the Seattle-based firm expects earnings between $1.16 and $1.19 a share. Analysts surveyed by Thomson Reuters are looking for sales of $377.08 million and earnings of $1.24 a share. F5 shares slipped 0.75% to $97.85 in extended trading on Thursday. --Written by Nathalie Pierrepont in New York. >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. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
