F5 Networks Lower Q2 Earnings Outlook (FFIV)
Shares of F5 Networks Inc. (NASDAQ: FFIV) were hammered in aftermarket hours on Thursday after the application delivery networking (ADN) technology services provider late last evening, slashed its guidance both on fiscal second quarter earnings and revenue, citing “slowdown in North America”.
The Seattle, Washington-based Company now anticipate earnings of 79 cents to 80 cents a share and non-GAAP earnings of $1.06 to $1.07 a share on revenue of $350.2 million.
Earlier, the Company provided earnings guidance of 93 cents a share to 96 cents a share and non-GAAP earnings of $1.21 a share to $1.24 a share on revenue range of $370 million to $380 million.
Previously, the company expected earnings of $0.93 to $0.96 per share, adjusted earnings of $1.21 to $1.24 per share and revenues of $370 million to $380 million.
According to Thomson Reuters, Wall Street analysts are now currently expecting earnings of $1.23 a share on revenue of $375.8 million.
Addressing analysts in conference call, F5’s CEO, John McAdam attributed shortfall in the top line mainly due to slow down in North America and to some weakness in EMEA rgion. However, The CEO said that sales in the Asian-Pacific region including Japan are likely to come in-line with initial expectations.
F5 is scheduled to announce fiscal second quarter results on April 24th and the Company would throw more light on details during the earnings call, said MaAdam.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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