Shares of F5 Networks took off in after hours trading following the company’s quarterly earnings announcement. F5, a maker of hardware and software products that speed up the delivery of applications, posted revenue of $370.3 million, up six percent over the previous quarter. Net income came in at $68.2 million, up from $63.4 million in the previous quarter and down from $72.3 million for the same period last year.
“Results for the third quarter exceeded our expectations,” said John McAdam, F5 president and chief executive officer. “Product sales during the quarter were driven by growing demand for our BIG-IP 4000 appliances and our new entry-level BIG-IP 2000 series.”
F5’s shares jumped more than six percent in after hours trading, topping $86 per share. So far this year, the stock is down 16 percent. It now has a market value of $6.4 billion.
