Enterprise networking equipment vendor F5 Networks (FFIV) this afternoon reported fiscal Q2 revenue and earnings per share higher than analysts had been expecting.
Revenue in the three months ended in March rose 5.3%, year over year, to $339.6 million, yielding EPS of $1.09.
Analysts on average had been expecting $335.3 million and $1.07.
CEO John McAdam remarked that the results were driven by “strong demand” for F5′s “Viprion” product, its “virtual clustered multiprocessing technology,” or vCMP, and software modules. That drove software revenue up by 18%, year over year.
For the current quarter, the company sees revenue of $350 million to $355 million, and EPS of $1.12 to $1.14, excluding some costs. Analysts have been modeling $353 million and $1.14 per share.
F5 stock is down $4.16, or 3%, at $120.05 in late trading.
F5′s conference call with analysts starts at 4:30 pm, Eastern, and you can catch the webcast of it here.
Update: F5 shares reversed their initial decline and are now up $8.29, or almost 7%, at $132.50.
Correction: An earlier version of this post had the wrong forecast range for F5′s Q3 outlook. The correct range is $350 million to $355 million, which would be roughly in line with analysts’ estimates. My apologies for any confusion caused by the error.
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