F5 Networks, Inc. Posts Weaker Than Expected Q2 Earnings & Provides Subpar Guidance For Q3 -

F5 Networks, Inc. Posts Weaker Than Expected Q2 Earnings & Provides Subpar Guidance For Q3

Apr 26, 2017Jeremy ParkinsonFinance0

F5 Networks, Inc. (Nasdaq: FFIV) late Wednesday posted weaker than expected Q2 earnings and provided subpar guidance for Q3

Written by StockNews.com

The Seattle-based software developer reported Q2:

earnings per share (EPS) of $1.95, which was $0.02 worse than the Wall Street consensus estimate of $1.97,

revenues rose 7.1% from last year to $518.2 million, also missing analysts’ view for $523.12 million.

Looking ahead, F5 forecast:

Q3 EPS of $2.01 to $2.04, which would miss the Wall Street consensus estimate of $2.09 and

Q3 revenue outlook of $520 to $530 million is also lighter than analysts’ view for $537.84 million.

The company attempted to paint a rosy picture about its business via press release:

“With a strong culture of technology innovation and a solid financial foundation, F5 is uniquely positioned to address our customers’ evolving demands around securing and optimizing performance of their mission-critical business applications.”

Investors were none to pleased, however, as F5 Networks, Inc. shares fell $9.45 (-6.88%) in after-hours trading Wednesday. Year-to-date, FFIV had declined -5.13% prior to today’s report, versus a 7.12% rise in the benchmark S&P 500 index during the same period.

FFIV currently has a StockNews.com POWR Rating of B (Buy), and is ranked #23 of 41 stocks in the Software – Business category.