F5 Networks Surges 13% on Strong Earnings

Shares of F5 Networks

have added 13% on heavy volume on Thursday after the company delivered an upbeat earnings report on Wednesday after the closing bell. F5 reported non-GAAP earnings per share of $1.03 which beat analysts' consensus EPS estimates of $1.01. Revenues came in at $322.4 million which was also ahead of consensus estimates of $319.15. Looking ahead to fiscal Q2, provided non-GAAP EPS guidance of between $1.05 to $1.07 on revenues of between $332 million to $337 million. This compares to current Wall Street consensus of $1.05 on revenue of $330.51 million. The stock is currently trading at $121.92. Nearly 5 million FFIV shares have already traded hands on the day compared to a 3-month daily average of 1.9 million.