F5 Networks Takes Off - TheStreet

F5 Networks Takes Off

The stock jumps nearly 15% after beating earnings estimates.
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Shares of Internet networker F5 Networks (FFIV) - Get Report jumped in extended trading Wednesday after the company beat second-quarter earnings estimates and guided its third quarter above current forecasts.

The stock was recently up $9.70, or 14.7%, in after-hours trading to $75.77; shares had slipped about 1.5% during the regular session.

F5 said net income for the quarter ended March 31 rose to $20 million, or 47 cents a share, from $16.1 million, or 40 cents a share, a year earlier.

Revenue grew 36% to $127.6 million.

Both results exceeded the analyst consensus estimate of Thomson Financial, which had expected the company to earn 45 cents a share on revenue of $125.5 million.

"The company's solid revenue gains reflect the continuing strength of its core application delivery networking business, which grew 8 percent during the quarter and accounted for 92 percent of total revenue," the company said in a press release.

For the third quarter, F5 said it expects to earn 48 cents to 50 cents a share on revenue of $131 million to $133 million.

Analysts were expecting earnings of 48 cents a share on revenue of $130.8 million.