U.S. Markets closed

F5: Fiscal 2Q Earnings Snapshot

SEATTLE (AP) _ F5 Networks Inc. (FFIV) on Wednesday reported fiscal second-quarter net income of $116.1 million.

On a per-share basis, the Seattle-based company said it had net income of $1.93. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were $2.57 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.

The computer networking company posted revenue of $544.9 million in the period, falling short of Street forecasts. Nine analysts surveyed by Zacks expected $546.7 million.

For the current quarter ending in July, F5 expects its per-share earnings to range from $2.54 to $2.57. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.58.

The company said it expects revenue in the range of $550 million to $560 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $553 million.

F5 shares have risen slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. In the final minutes of trading on Wednesday, shares hit $164.29, a climb of nearly 5 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FFIV at https://www.zacks.com/ap/FFIV