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F5 Networks, Inc.
FFIV 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. (
FFIV) 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.
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from Benzinga's Company news.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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