F5 Networks today announced its fourth quarter earnings, beating Wall Street’s expectations with $465 million in revenue and $94 million in profit. Revenue increased by 18 percent year-over-year, while net income spiked 24 percent from 2013.
Shares of F5 are up more than 2 percent in after-hours trading following a 2.5 percent dip on Wednesday.
“The fourth quarter of fiscal 2014 was a solid finish to a year characterized by positive customer and partner response to our Synthesis architecture, the array of new products we rolled out in fiscal 2013, our Good Better Best pricing strategy, and the enhanced capabilities of our BIG-IQ management platform,” CEO John McAdam said in a statement.
F5 Networks also announced that McAdam will retire next September. McAdam plans to stay on F5’s board and help the company find a successor.
F5 now has a market cap of just under $9 billion. Check out the company’s financials from its fiscal fourth quarter below:
