F5 Networks Shares Fall After Weak Outlook, Revenue Miss

By Wallace WitkowskiMarketsMarketWatch Pulse

F5 Networks Inc. shares dropped in the extended session Wednesday after the network software company's outlook and quarterly revenue fell below Wall Street estimates. F5 shares fell 7.2% to $119 after hours. F5 said it expects fiscal fourth-quarter adjusted earnings of $2.20 to $2.23 a share on revenue of $530 million to $540 million. Analysts surveyed by FactSet had estimated earnings of $2.23 a share on revenue of $551.5 million. The company reported fiscal third-quarter net income of $97.7 million, or $1.52 a share, compared with $91.8 million, or $1.37 a share, in the year ago period. Adjusted earnings were $2.03 a share. Revenue rose to $517.8 million from $496.5 million in the year ago period. Analysts had estimated $2.03 a share on revenue of $525.6 million.

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