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Home Internet Security

F5 Networks fiscal Q4 results top expectations, Q1 revenue outlook beats, shares jump

October 28, 2020
in Internet Security
F5 Networks fiscal Q4 results top expectations, Q1 revenue outlook beats, shares jump
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Shares of networking traffic management technology vendor F5 Networks were up almost 6% in late trading this afternoon, after the company reported fiscal fourth-quarter revenue and profit that topped analysts’ expectations, and forecast this quarter higher as well. 

F5 CEO François Locoh-Donou said that “Going forward, we expect continued robust software growth from a more diversified base of subscription and SaaS revenue, a software subscription renewals flywheel that is starting to turn with momentum, and true-forward revenue opportunities on a significant percentage of our long-term software subscription contracts.”

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Revenue in the three months ended in September rose 4.1%, year over year, to $615 million, yielding EPS of $2.43. That was above the average Wall Street estimate for $607 million and $2.37.

For the current quarter, the company sees revenue in a range of $595 million to $615 million, again, ahead of consensus for $592 million.

EPS is seen in a range of $2.26 to $2.38, better than the average estimate for $2.28. 

F5, based in Seattle and founded in 1996, is best known for its initial product, its BIG/IP network application traffic controller. The company for many years was an appliance vendor, but over time diversified its product offerings to provide both a virtual version that can be installed in an on-premise standard server setup, and also, in more recent years, a cloud based version.

F5 stock rose almost 6% in late trading to $132.85.

Credit: Zdnet

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