F5 Networks fiscal Q1 revenue, profit beat expectations, revenue outlook higher as well

Application security pioneer F5 Networks this afternoon reported fiscal Q1 revenue and profit that topped analysts’ expectations, and forecast this quarter’s revenue higher, but profit a bit below, sending its shares sharply lower in late trading.

Revenue in the three months ended in December rose to $625 million, yielding EPS of $2.59. 

Analysts had been modeling $623 million and $2.45 per share. 

Also: F5 to acquire multi-cloud security software maker Volterra for $500 million, raises financial outlook 

The results compare to a raised forecast for $623 million to $626 million in revenue offered two weeks ago, when the company announced it would acquire privately held, Volterra of Santa Clara, California, a maker of distributed multi-cloud application security and load-balancing software.

For the current quarter, the company sees revenue in a range of $625 million to $645 million, higher than the consensus for $621 million; and EPS in a range of $2.32 to $2.44, slightly below consensus for $2.41. 

F5 shares are down about 3% at $203 in after-hours trading and had initially dropped as much as 6%.

Also: F5 Networks tops third quarter earnings targets

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