F5 reports $747M in quarterly revenue as stock surges 10%; company names new CFO

Shares of F5 were up more than 10% in after-hours trading Monday after the company beat estimates for its fourth fiscal quarter earnings report.

The Seattle-based application security and delivery company reported revenue of $747 million, up 6% year-over-year, and GAAP net income of $165 million, up more than 8% year-over-year.

“In a relatively short period of time, we have substantially reshaped F5 from a hardware-centric, single-product company into a security and software leader in today’s hybrid multicloud world,” F5 President and CEO François Locoh-Donou said in a statement.

F5 said Monday that its board authorized $1 billion for its common stock repurchase program. The company’s stock is up more than 20% this year.

F5 also appointed Cooper Werner as its new chief financial officer and executive vice president. Werner, who joined F5 in 2001 and was previously senior vice president of finance, will replace Frank Pelzer, who is retiring.

F5 has about 6,500 employees worldwide.