F5 Networks Shares Climb Nearly 6% (FFIV)

F5 Networks, Inc.

released financial results on Wednesday after the market closed that beat Wall Street estimates. President and chief executive officer John McAdam said, “Strengthening demand for our BIG-IP family of application delivery controllers continued to drive strong year-over-year revenue growth across all regions.” F5 Networks, Inc. (

) reported that its fiscal 3rd quarter net income rose to $40.5 million, or 50 cents per share, up from $22.8 million, or 29 cents per share, a year earlier. Excluding special items, F5 Networks earned 66 cents per share. The company's revenue surged 45.7% to $230.5 million, up from $158.2 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 59 cents per share, on revenue of $218.37 million. Shares of FFIV ended Wednesday trading down nearly 5% at $73.11 per share but the stock surged more than 5% to $77.21 during after hours trading. Analysts covering the company's stock have a consensus price target of $75.11 per share. Read more