F5 Networks (FFIV) reported increased profit for the most recent quarter, boosted by strong revenue.
Earnings and Revenue
The company's EPS fell in line with analyst expectations of 91 cents a share. Revenue of $352.6 million also met expectations. The estimates of 22 analysts ranged from profit of 88 cents to profit of 95 cents.
Net income for the third quarter was $72.3 million. This is 15.6% higher than the year-ago quarter. Revenue climbed 21.3% from $290.7 million in the same period last year.
Company Fundamental Trends
Last quarter marked the third in a row of rising net income. The company has averaged revenue growth of 22.7% over the past five quarters.
History Against Expectations
The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the second quarter, it topped the mark by 2 cents, and in the first quarter, it was ahead by 2 cents.
"Meanwhile, we are continuing to strengthen our organization and our financial position. In the third quarter, we added 100 employees, increased deferred revenue to $434 million and generated $113 million in cash from operations. After repurchasing 425,088 shares of our outstanding common stock we ended the quarter with $1.1 billion in cash and investments."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.