F5 Networks up 10% on Better Than Expected Earnings

F5 Networks

is trading higher on the session following its earnings announcement yesterday. The company reported Q1 EPS of $1.03 vs $1.01 estimate and revenues $322.4 million vs $319.03 million estimate. In addition, F5 Networks guided Q2 EPS $1.05-1.07 vs $1.05 estimate and revenues $332-337 million vs $330.90 million estimate. CEO John McAdam stated: "Strong sales in APAC, Japan, and particularly North America offset the seasonal slowdown that typically characterizes the first quarter of a new fiscal year. We were also pleased that sales in the EMEA region exceeded our expectations,” said John McAdam, F5 president and chief executive officer." F5 Networks is currently trading at $119.40, a gain of $10.94 or 10.09%.