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Shares of F5 were up more than 8% in after-hours trading Monday after the Seattle-based company application security and delivery giant reported its fiscal third quarter earnings.
- F5 said revenue grew 4% year-over-year to $703 million. Earnings per share came in at $3.21, up from $2.57 a year earlier. Both beat analyst expectations.
- “We are seeing some early signs of demand stabilization as customers look to F5 to help them secure and optimize the applications and APIs that power their businesses,” F5 CEO François Locoh-Donou said in a statement.
- F5 has cut costs over the past year, including layoffs in April and other expense reductions.
- The company expects revenue between $690 and $710 million for the fourth quarter, in line with estimates.
- Microsoft and Google also report quarterly earnings this week.
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