U.S. News

F5 Networks' Quarterly Earnings Top Estimates; Shares Jump


F5 Networks posted higher quarterly earnings which came in above Wall Street estimates and forecast third-quarter earnings above analysts' view.

F5 shares rose over 15% to $75.60 in late electronic trade, after closing at $66.07 on the Nasdaq.

The network equipment maker posted second-quarter earnings of $20 million, or 47 cents a share, on revenue of $127.6 million, helped by continuing strength of its core application delivery networking business, the company said in a statement.

The results also beat the company's prior estimates for the quarter.

Analysts on average were expecting a profit of 46 cents a share, before special items, on revenue of $125.5 million, according to Reuters Estimates.

F5 also issued third-quarter guidance significantly above analysts' expectations; the company expects to earn 48 to 50 cents a share, on revenue of $131 to $133 million.

Analysts on average are predicting earnings of 41 cents a share, excluding items, on revenue of $125.5 million.