Why F5 Networks Stock Plunged Today
Shares of F5 Networks (NASDAQ: FFIV) have plunged today, down by 8% as of 1:20 p.m. EDT, after the company reported fiscal third-quarter earnings. The results topped Wall Street's expectations, but investors may have been disappointed in decelerating growth in the software business.
Revenue in the fiscal third quarter came in at $583 million, topping the consensus estimate of $572 million in sales. That translated into adjusted net income of $134 million, or $2.18 per share. Analysts were expecting just $2.03 per share in adjusted profit.
Image source: F5 Networks.
Source Fool.com
