F5 Networks (Nasdaq:FFIV) Drops Over $30 on Weak Earnings, Guidance

Shares of F5 Networks (Nasdaq:FFIV) are getting crushed today as the performance of the company in their latest quarter, along with weak guidance, has pushed company down by over $30 a share, or over 22 percent.

The question on minds of investors seems to be if the momentum in relationship to F5 has now ended. From the numbers they've put forth, it appears they still have some life left in them in that regard, but are operating on borrowed time if anything else comes out disappointing in the season ahead.

Expectations for F5 have been so high that they eventually would have ended up disappointing shareholders and investors, and that has come to roost now, as their earnings fell just below expectations of $270.36 million to $268.9 million. That generated $0.88, beating the $0.82 analysts were looking for.

Earnings guidance given for the second quarter are a range of $0.84 to $0.86, in line with the consensus of $0.85. Sales are under consensus, with a range of $275-$280 million, with consensus being $280.72 million.

Revenue in the first quarter for F5 increased 40.7 percent over last year, but only 5.8 percent from last month. Non-GAAP EPS also increased by 69 percent over last year, but only 11.4 percent over last month.

F5 was trading at $106.83, down $31.95, or 23.02 percent, as of 11:19 AM EST.