gotta sell immediately at market opening price (not sell limit order) and runnnn hehehe
F5 Networks Inc.'s (FFIV) fiscal fourth-quarter profit jumped 13% as the networking-equipment company reported particularly strong services revenue growth, while products sales also rose.
Shares jumped 9.7% to $94.81 in after-hours trading, as the results easily exceeded the expectations the company outlined in July.
The company also offered a relatively rosy outlook for the current quarter, projecting an adjusted profit of $1.17 to $1.20 a share on $390 million to $400 million in revenue. Analysts surveyed by Thomson Reuters expected $1.20 and $390 million, respectively.
F5's revenue growth has slowed recently as its largest customers reduced or delayed orders. The company rolled out a diverse portfolio of new products earlier this year to rejuvenate sales, and executives have said sales of the new products have been strong.
For the quarter ended Sept. 30, F5 posted a profit of $76.2 million, or 97 cents a share, up from $67.7 million, or 85 cents a share, a year earlier. Excluding stock-based compensation and other items, adjusted profit grew to $1.26 from $1.12 a share. Revenue grew 9% to $395.3 million.
F5 in July had projected an adjusted profit of $1.17 to $1.20 a share on $378 million to $388 million in revenue. That view mostly exceeded Wall Street's expectation.
Gross margin widened to 83.1% from 82.7%. Operating expenses were up 8.1%.
Product sales, which account for just over half of all revenue, grew 1.2%. Services revenue increased 20%.