F5's quarterly revenue rises 4.7% yoy to $542 million

F5 Networks reported revenue of $542.2 million for its third quarter of fiscal 2018, up 4.7% from $517.8 million in the third quarter of fiscal 2017.

F5 cited growth with its software solutions and services business.

GAAP net income for the third quarter of fiscal 2018 was $122.7 million, or $1.99 per diluted share, compared to $97.7 million, or $1.52 per diluted share in the third quarter of fiscal 2017.

“I’m pleased with results for the third quarter,” said François Locoh-Donou, F5 President and Chief Executive Officer. “We continue to see momentum in our security and software business, traction in our public cloud offerings and customer excitement around new multi-cloud application solutions like BIG-IP Cloud Edition.

F5 also announced the appointment of Chad Whalen to Executive Vice President, Worldwide Sales.He was promoted from his role running F5’s worldwide cloud sales team where he was responsible for the company’s global public cloud sales strategy, program development and execution. Previous to F5, he served as VP of Global Alliances and Cloud Services at Fortinet and the GM/VP of North America Field Operations.