Shares of F5 Networks jump 5% as focus on cloud software and services continues to fuel growth

The F5 Tower in downtown Seattle. (GeekWire Photo / Kurt Schlosser)

Seattle-based F5 Networks saw shares rise more than 5% in after-hours trading Monday after its fiscal fourth quarter earnings report beat expectations.

The company posted revenue of $615 million, up 4%, and non-GAAP earnings per share of $2.59. Wall Street expected revenue of $606 million and EPS of $2.37.

F5 Networks continues to benefit from its move into software and services, expanding beyond its traditional networking hardware business. Software revenue was up 36% from the year-ago quarter.

“Going forward, we expect continued robust software growth from a more diversified base of subscription and SaaS revenue, a software subscription renewals flywheel that is starting to turn with momentum, and true-forward revenue opportunities on a significant percentage of our long-term software subscription contracts,” François Locoh-Donou, president and CEO of F5, said in a statement.

Earlier this year Locoh-Donou laid out the

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Twitter botched its own moderation policies by banning a New York Post story and added fuel to the right’s baseless belief that Big Tech is waging a war against conservatives



a person wearing a blue hat: Activist Mike Merrigan holds a piñata shaped like the Twitter logo with hair to look like U.S. President Donald Trump during a protest outside of Twitter headquarters on May 28, 2020 in San Francisco, California. Justin Sullivan/Getty Images


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Activist Mike Merrigan holds a piñata shaped like the Twitter logo with hair to look like U.S. President Donald Trump during a protest outside of Twitter headquarters on May 28, 2020 in San Francisco, California. Justin Sullivan/Getty Images

  • Twitter earlier this week banned an article published by the New York Post regarding the son of Democratic presidential candidate Joe Biden.
  • The report was based in part on files and emails that the Post said were taken from Hunter Biden’s laptop.
  • Twitter’s decision to ban a story published by a conservative-leaning publication without explanation seemed to affirm Republicans’ long-held theory that Big Tech is biased against the right.
  • The move undermined what Twitter has said is its mission to implement fair moderation policies and limit disinformation on its platform, especially ahead of one of the most important presidential elections in modern US history.
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