Seattle application security and delivery giant F5 beat expectations for its third fiscal quarter, reporting $674 million in revenue, up 4% year-over-year, and non-GAAP earnings per share of $2.57, slightly down from the year-ago period. F5 said its software revenue grew 38%. Formerly F5 Networks, the company has been expanding in recent years beyond its traditional networking hardware business. “With our intense business transformation efforts over the last five years, we have built a stronger and more resilient F5, as evidenced by our 72 percent revenue from recurring sources in the quarter,” CEO François Locoh-Donou said in a release. “As a result, we have increased confidence in our ability to deliver sustained revenue and earnings growth.”
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