F5’s stock rises 7% on strong sales forecast, earnings beat

Shares of F5 Inc.
FFIV,
+0.95%
jumped 7% in after-hours trading Monday after the cloud company reported quarterly results. F5 posted fiscal first-quarter net income of $138 million, or $2.32 a share, compared with net income of $72 million, or $1.20 a share, in the same quarter a year ago. Adjusted earnings were $3.43 a share. Revenue declined to $693 million from $700 million in the year-ago quarter. Analysts surveyed by FactSet had expected on average net income of $3.04 a share on revenue of $685 million. F5 provided second-quarter sales guidance of $675 million to $695 million, while FactSet analysts are forecasting $673 million. Shares of F5 have gained 27% over the past year, while the broader S&P 500 index
SPX,
+0.76%
has increased 23%.