F5 Networks (FFIV) Tops Q4 EPS by 17c; Guides Q4; Names New CTO

October 26, 2016 4:14 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

F5 Networks (NASDAQ: FFIV) reported Q4 EPS of $2.11, $0.17 better than the analyst estimate of $1.94. Revenue for the quarter came in at $525.3 million versus the consensus estimate of $520.32 million.

FFIV also announced that Ryan Kearny has been appointed to the company’s executive leadership team as Executive Vice President of Product Development and Chief Technology Officer, reporting to the CEO. In this role, Kearny will oversee the company’s product development and innovation strategy for all F5 solutions.

“Ryan’s experience, perspective, and technical acumen make him an ideal fit to take F5 further into emerging areas—particularly around software and cloud technologies,” said John McAdam, President and CEO of F5 Networks. “Building on the company’s market leadership position, we see opportunities to enhance F5’s application services offerings with sophisticated orchestration, analytics, and security capabilities in the cloud and on-premises. As Application Delivery Controllers become increasingly software-centric, Ryan and his teams will be instrumental in delivering programmable, scalable solutions that can support all types of data center, cloud, and app-focused environments.”

Kearny joined F5 in 1998, previously serving as Senior Vice President of Product Development, among other technology leadership positions. Kearny has been a key contributor to the success of the company’s flagship BIG-IP® product line, including its expansion into virtual editions, and the development of the TMOS® architecture. He now takes on an expanded role that includes the planning and execution of F5’s technology roadmap, along with the leadership of all product engineering personnel.

“In my career, I’ve had the chance to discuss the evolution of IT with many of our customers first-hand, in addition to countless hours spent with our architects, software developers, and platform engineers,” said Kearny. “I’m excited to apply what I’ve learned at the executive level, with a sincere nod of gratitude to the technology leaders that have made F5 the company it is today.”

Kearny is based in Seattle at F5’s corporate headquarters. He holds a B.S. in Electrical Engineering from the University of Washington.

GUIDANCE:

F5 Networks sees Q1 2017 EPS of $1.92-$1.95, versus the consensus of $1.86. F5 Networks sees Q1 2017 revenue of $510-520 million, versus the consensus of $515.7 million.

For earnings history and earnings-related data on F5 Networks (FFIV) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Earnings, Guidance, Management Changes, Management Comments

Related Entities

Earnings

Add Your Comment