Application delivery and security company F5 posted fiscal first-quarter results that topped expectations for both revenue and net profit.
The company said on Monday that first-quarter revenue came to $822.0 million. That was up 7 percent from a year earlier. Net profit was $4.45 per share, up 16 percent. The results were well above analyst estimates compiled by FactSet of $756.0 million in revenue and earnings of $3.65 per share.
F5 said it strengthened application security functions for hybrid and multi-cloud environments in November and December last year, improving its ability to respond to the market. Chief Executive Francois Locoh-Donou (프랑수아 로코-도누) said demand for F5 products is rising as companies strengthen AI and cloud security.
The second-quarter outlook was mixed. F5 forecast second-quarter earnings per share of $3.34 to $3.46 and revenue of $770.0 million to $790.0 million. Compared with analyst estimates of $3.41 per share and $748.0 million in revenue, the earnings outlook was slightly lower while the revenue forecast was higher.
F5 shares rose 10 percent on the day.
Chi-gyu Hwang
delight@d-today.co.kr