SEATTLE (AP) _ F5 Networks Inc. (FFIV) on Monday reported fiscal first-quarter earnings of $98.5 million.

On a per-share basis, the Seattle-based company said it had net income of $1.62. Earnings, adjusted for one-time gains and costs, were $2.55 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.43 per share.

The computer networking company posted revenue of $569.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $566.1 million.

For the current quarter ending in April, F5 expects its per-share earnings to range from $2.14 to $2.17. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.43.

The company said it expects revenue in the range of $580 million to $590 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $571.5 million.

F5 shares have dropped 5% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Monday, shares hit $132.70, a decline of 16% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FFIV at https://www.zacks.com/ap/FFIV

Automated Insights, source Associated Press News