F5 Networks Second-Quarter-Earnings Outlook Lags Analysts' Estimates

F5 Networks, the Seattle provider of network-optimization software, reported first-quarter adjusted earnings that beat analysts' estimates but offered a second-quarter profit outlook that lagged expectations.
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F5 Networks (FFIV) - Get Report, the Seattle provider of network-optimization software, reported fiscal-first-quarter net income dropped 25% as revenue climbed 4.7%.

For the quarter ended Dec. 31, F5 Networks earned $1.62 a share compared with $2.16 in the year-earlier period. The latest adjusted number: $2.55.

A survey of analysts by FactSet estimated that the company earned $1.77 a share on a GAAP basis, or an adjusted $2.43, on sales of $565.9 million. 

For the fiscal 2020 second quarter ending March 31, F5 expects to earn an adjusted $2.14 to $2.17 a share as adjusted revenue ranges $580 million to $590 million. 

FactSet's survey is looking for an adjusted $2.42 a share in the second quarter on sales of $571.2 million.

Shares of the company were trading after hours down around 4%. They closed the regular session down 2.3% at $132.70, on a day when the tech-heavy Nasdaq Composite Index dropped almost 1.9%.

Through regular trading on Monday, F5 Networks shares had fallen 5%. They're up 9.3% from their 52-week low above $121 set in late August. And they're 23% below their 52-week high above $173, set late last February.