F5 Networks Inc. Earnings Cheat Sheet: Earnings Higher Than Expected

S&P 500 (NYSE:SPY) component F5 Networks Inc. (NASDAQ:FFIV) reported net income above Wall Street’s expectations for the second quarter. F5 Networks provides technology that optimizes the security and performance of servers, data storage devices and other network resources.

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F5 Networks Earnings Cheat Sheet for the Second Quarter

Results: Net income for F5 Networks Inc. rose to $68.6 million (86 cents per share) vs. $55.6 million (68 cents per share) in the same quarter a year earlier. This marks a rise of 23.4% from the year-earlier quarter.

Revenue: Rose 22.3% to $339.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: F5 Networks Inc. reported adjusted net income of $1.09 per share. By that measure, the company beat the mean estimate of 86 cents per share. Analysts were expecting revenue of $335.3 million.

Quoting Management: “During the quarter we continued to see growing demand for both VIPRION 2400, our midrange chassis-based application delivery controller, and VIPRION 4400, the high end of our ADC product family,” McAdam said. “In early April, we introduced a new chassis, VIPRION 4480, with new blades that effectively double the performance of VIPRION 4400.”

Key Stats:

The company has now seen its net income rise for three quarters in a row. In the first quarter, net income rose 19.5% and in the fourth quarter of the last fiscal year, the figure rose 40.2%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the first quarter, by 7 cents in the fourth quarter of the last fiscal year, and by 6 cents in the third quarter of the last fiscal year.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the third quarter is 93 cents per share, up from 91 cents ninety days ago. For the fiscal year, the average estimate has moved up from $3.57 a share to $3.65 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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