F5 Networks; Shares up

This afternoon, Wednesday, April 23, 2014, F5 Networks FFIV announced its second quarter earnings. Shares of the company are up 2.74 percent or $2.96 per share in after-hours trading to $111.15 after the company hit analysts' expectations. The company reported revenue of $420 million, which rose 20 percent year-over-year. "There were very few surprises in the second quarter of fiscal 2014," said John McAdam, F5 president and chief executive officer. "During the quarter, strong demand for our software-defined application services resulted in 22 percent year-over-year product revenue growth. Increasing revenue from the sale of software modules, particularly our Security modules, was driven in part by a growing percentage of customers purchasing our "Better" and "Best" offerings. Revenue by geographic region met or exceeded our expectations, with solid year-over-year growth in the Americas, EMEA and Japan. Sales of our TMOS-based products into vertical markets were also in line with historical trends and our internal expectations for the quarter, and our Traffix Diameter Signaling and Routing products continued to gain traction with key wins at several large service providers. For the current quarter the company has also set a revenue goal of 428 million to 438 million. "Looking out to the second half of fiscal 2014, we believe we can continue to build on the momentum we generated in the first two quarters of the year," McAdam said.