SEATTLE (AP) _ F5 Networks Inc. (FFIV) on Tuesday reported fiscal first-quarter net income of $87.7 million.
On a per-share basis, the Seattle-based company said it had net income of $1.41. Earnings, adjusted for one-time gains and costs, came to $2.59 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.
The computer networking company posted revenue of $624.6 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $625.2 million.
For the current quarter ending in April, F5 expects its per-share earnings to range from $2.32 to $2.44. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.46.
The company said it expects revenue in the range of $625 million to $645 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $623 million.
F5 shares have climbed 19% since the beginning of the year, while the Standard & Poor’s 500 index has increased 2.5%. In the final minutes of trading on Tuesday, shares hit $209.83, an increase of 58% in the last 12 months.