F5 FYQ2 Tops Street, Despite Japan Weakness

F5 Networks (FFIV) shares gained ground in late trading yesterday after the company reported strong results for its fiscal second quarter ended March.

FY Q2 revenues were $159.1 million, above the Street consensus of $156.3 million. GAAP profits of 21 cents a share were right in line with expectations.

The company said its core business grew “despite unexpected weakness in Japan.” F5 said this is typically the strongest quarter of the year in Japan, but that revenue was down sequentially from FY Q1. F5 also said that revenue from the U.S. government and telco sectors were below expectations. Ex-federal and telco, North American revenue was up sequentially, F5 said.

For FY Q3, the company sees revenue of $160 million to $162 million, with GAAP profits of 21-22 cents a share. The Street had been looking for $161.9 million and 22 cents.

In after hours trading Wednesday, F5 gained $1.76, or 7.9%, to $23.95. The stock had gained 88 cents in the regular session. It also climbed in premarket trading today, but has given some back.