This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

F5 Shares Fly on Strong Results (Update 1)

This story has been updated with F5 Networks' share price and interview comments from CEO John McAdam.

NEW YORK (TheStreet) - F5 Networks (FFIV - Get Report) shot past Wall Street's estimates in its fiscal first-quarter results, released after market close, delivering robust guidance, much to the delight of investors.

The networking specialist brought in revenue of $406.5 million, up from $365.5 million in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $396.38 million.

Excluding items, F5 earned $1.22 a share, up from $1.14 a share in the same period last year, and above analysts' forecast of $1.19 a share.

For the second-quarter, F5 expects sales between $408 million and $418 million and earnings, excluding items, of $1.23 to $1.26 a share. Analysts are looking for sales of $404.4 million and earnings of $1.21 a share.

Must Read: [video] Netflix Soars on Q4 Beat (Update 2)

The numbers pushed F5 shares up 9.77% to $107 in extended trading.

"During the first quarter, increasing demand for the new hardware and software products we introduced in fiscal 2013 continued to drive product revenue, which increased 3 percent from the prior quarter and 7 percent year over year," said F5 CEO John McAdam in a statement.

The Citrix Systems (CTXS) and Juniper (JNPR) rival added 165 employees during the first quarter. "We remain confident that the momentum we saw in the last two quarters will continue through the current quarter and into the back half of the year," said McAdam, in the company's statement.

Speaking during an interview with TheStreet, McAdam said that a number of factors drove the company's strong first-quarter results and its healthy outlook. These included F5's 2013 product refresh, replacements of Cisco's ACE technology and success in security and service providers, according to the CEO. "Service providers were twenty-four percent of our business in the quarter," he added, noting success in mobile and LTE deployments.

--Written by James Rogers in New York.

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FFIV $104.75 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs