Stock Alert: F5 Networks Up 11%

(RTTNews) - Shares of F5 Networks, Inc. (FFIV) are currently gaining over 11% on Tuesday morning. The computer networking company yesterday reported a second-quarter results that topped Wall Street estimates reflecting the surge in work-from-home requirements amid the coronavirus crisis.

FFIV is currently trading at $146.31, up $15.39 or 11.76%, on the Nasdaq.

F5 Networks reported second-quarter earnings of $61.38 million or $1.00 per share, down from $116.09 million or $1.93 per share last year.

Adjusted earnings were $135.95 million or $2.23 per share for the period. Analysts polled by Thomson Reuters expected earnings of $1.95 per share.

Revenue for the quarter rose 7.1% to $583.45 million from $544.90 million last year.

The company said it expects fiscal third-quarter sales between $555 million and $585 million with adjusted earnings in the range of $1.91 to $2.13 per share. Analysts currently estimate earnings of $1.84 per share and revenues of $546.86 million.