Why F5 Networks Stock Jumped 8.5% on Tuesday
Shares of F5 Networks (NASDAQ: FFIV) rose as much as 11.3% on Tuesday, lifted by an impressive fourth-quarter earnings report. At the end of the day, the application delivery specialist's stock closed 8.5% higher.
Earnings fell 6% year over year to $2.43 per share. Revenue rose 4% to $615 million. Your average Wall Street analyst would have settled for earnings near $2.37 per share on sales in the vicinity of $606 million. Management also set up bullish guidance targets for the first quarter of the fiscal year 2021, citing a healthy customer interest in boosting their own business value with popular F5 solutions like the BIG-IP app delivery services and the Nginx platform.
Image source: Getty Images.
Source Fool.com
