Cybersecurity and cloud services company F5 forecast fourth-quarter revenue and profit above Wall Street estimates on Monday, expecting resilient spending by businesses and sending its shares more than 13% higher in extended trading.
The Seattle, Washington-based company expects revenue between $720 million and $740 million for the fourth quarter, compared with analysts' average estimate of $717.4 million, according to LSEG data.
The company forecast annual revenue towards the top end of its prior expectations, at about $2.8 billion, or roughly flat from last year, compared with estimates of $2.78 billion.
F5 also raised its adjusted EPS growth forecast for the year to nearly 12% from its prior forecast for growth of 7% to 9%.
Revenue for the third quarter ended June 30 came in at $695 million, compared with estimates of $686.1 million.
Organizations:
Wall, Companies, Revenue
Locations:
Seattle, Washington