F5 Networks Earnings: Investors Cheer Double-Digit Revenue Growth
F5 Networks, Inc. (NASDAQ:FFIV) generated a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. However, investors are cheering the double-digit revenue growth. Shares are up 4.83%.
F5 Networks, Inc. Earnings Cheat Sheet
Results: Net income increased to $90.6 million (1.14 cents per diluted share) in the quarter versus a net gain of $66.49 million in the year-earlier quarter.
Revenue: Rose 13.36% to $365.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: F5 Networks, Inc. reported adjusted net income of 1.14 cents per share. By that measure, the company missed the mean analyst estimate of $1.15. It missed the average revenue estimate of $366.74 million.
Quoting Management: “During the first quarter, strong sales to North American enterprises and service providers were offset by a substantial slowdown in U.S. Federal sales,” said John McAdam, F5 president and chief executive officer. “Japan sales were also weak during the quarter, in contrast to continuing strength in Europe and solid year-over-year growth in the rest of the Asia-Pacific region…