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F5 Networks Up 6% after Beating First Quarter Earnings Estimate

 (Image source: f5.com)

Shares of the network equipment provider F5 Networks, Inc. (NASDAQ:FFIV) are surging this morning after posting first quarter earnings that beat street expectations. The company reported adjusted EPS of $1.22 on revenues of $406.5 million, beating the $1.19 expected by analysts. F5 Networks cited its new product offerings as a reason for revenue growing in the first quarter. As a result, the company raised its earnings forecast for the second quarter to range of $1.23 to $1.26 a share on revenues of $408 million. Consensus among analysts is earnings per share of $1.21 for the second quarter on revenues of $404 million.