F5 Beats, Splits CFO Job

F5 Networks ( FFIV) posted a solid third-quarter profit, boosted fourth-quarter guidance and named two executives to take finance chief responsibilities.

The Seattle-based maker of content-aware networking gear made $15.7 million, or 39 cents a share, in the quarter ended Sept. 30, down from the year-ago $15.8 million, or 43 cents a share. Excluding stock-based compensation expense, F5 made 47 cents a share, 9 cents ahead of the Wall Street analyst consensus estimate.

Revenue rose to $80.6 million from $50.2 million a year earlier.

F5 said it expects to make 44 or 45 cents a share in the first quarter, on a pro forma basis excluding stock compensation expense, on sales of $86 million. Analysts polled by Thomson First Call had been looking for a 38-cent profit on sales of $82 million.

The company also named Andy Reinland and John Rodriguez senior executives with responsibility for functions and organizations formerly managed by the company's chief financial officer. As senior vice president and chief finance officer, Reinland will assume responsibility for financial planning and analysis, investor relations and information technology. Rodriguez, as senior vice president and chief accounting officer, will be responsible for worldwide accounting, reporting, human resources and corporate operations. The company said it made the move after an exhaustive search.

After falling 4% during regular trading Tuesday, F5 rose $5.73 to $47.13 in late action.

More from Technology

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company