NEW YORK (TheStreet) -- Shares of F5 Networks (FFIV) - Get Report were rising 5.57% to $126.20 in after-hours trading on Wednesday after the company reported better-than-anticipated results for the 2016 fiscal fourth quarter and issued an upbeat forecast.

After today's closing bell, the Seattle-based application delivery services provider posted adjusted earnings of $2.11 per share, topping analysts' estimates of $1.94 per share.

Revenue for the quarter grew 5% year-over-year to $525 million and topped Wall Street's projections of $521 million.

For the full fiscal year, adjusted earnings of $7.30 per diluted share were higher than analysts' expectations of $7.14 per share. Revenue rose 4% over last year to $2.00 billion and was above Wall Street's forecasts of $1.99 billion.

For the fiscal first quarter, F5 sees adjusted earnings per diluted share of $1.92 to $1.95 on revenue between $510 million and $520 million.

Analysts are looking for earnings of $1.86 per share on revenue of $515 million, according to FactSet.

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Additionally, the company named Ryan Kearny CTO and executive VP of product development today.

Previously, Kearny was senior VP of product development. He succeeds Karl Triebes, who resigned last month. Triebes will remain with the company until January 1 in an advisory role.

More than 849,000 shares of the company traded on Wednesday vs. the 30-day average of roughly 579,000 shares.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.

The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: FFIV

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