Why F5 Stock Is Rising After The Bell?

Shares of cloud application services and security company F5 Inc FFIV are trading higher in Monday's after-hours session after the company reported better-than-expected financial results.

  • Q3 Revenue: $702.64 million beat estimates of $699.39 million
  • Q3 EPS: $3.21 beat estimates of $2.86

Total revenues were up 4% year-over-year. Global services revenue climbed 8%, and product revenue increased 1%, although software sales were down 3%. 

"In an environment that remains challenged by macroeconomic uncertainty, our team is executing well, delivering third-quarter revenue at the midpoint of our guidance range and earnings per share well above the high end of our guidance range. We are seeing some early signs of demand stabilization," said François Locoh-Donou, president and CEO of F5.

Q4 Outlook: F5 sees fiscal fourth-quarter revenue in the range of $690 million to $710 million versus analyst consensus of $701.94 million. Earnings are expected to be between $3.15 and $3.27 per share versus analyst consensus of $3.22. 

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

Read Next: Cleveland-Cliffs Stock Is Moving After Hours: What's Going On?

FFIV Price Action: F5 shares were up 9.17% after hours at $163.58 at the time of publication, according to Benzinga Pro.

Photo: Bethany Drouin from Pixabay.

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