|By Marketwired .||
|February 4, 2013 08:00 AM EST||
NEW YORK, NY -- (Marketwire) -- 02/04/13 -- Amid the poor to terrible earnings reports from large tech stocks across the board, application software companies like F5 Networks and CA Technologies have returned decent earnings figures and bolstered the swaying mood of the market to a certain extent. Although many mega hedge funds habitually park money in some of the top software provider stocks, individual investors are not too happy with how the sector has performed lately.
Access our free reports on F5 Networks Inc. (NASDAQ: FFIV) and CA Technologies (NASDAQ: CA). Traders can also connect to our Wall Street Trading Floor where our research desk and market pros are standing between 8:50 am to 4:15 pm ET at
F5 Networks provided lower-than-expected quarterly results as a result of a slowdown in federal sales. However, the company forecast second quarter adjusted profit above street estimates. The net income of the company rose from $66.5 million or 83 cents per share to $69.5 million or 88 cents per share. F5's management reaffirmed the forecast, assuring investors that the second half of fiscal 2013 would come out with relatively better results compared to Q1. The market was bolstered by this positive guidance and the stock is expected to see a strong and productive year.
CA had total revenue of $1.19 billion in its latest reported quarter. This is a decline of 4% y-o-y when adjusted for currency, a decline mainly resulting from a poorer market for mainframe solutions. This figure was also down 5.0% from $1.26 billion in the year-ago quarter. The drop in the top-line and bottom-line did not come as a surprise to the people on the street. This quarter, CA had an operating income of $370 million, while it had one that was 10% more in the quarter a year ago, unadjusted for inflation.
CA provided a bleak guidance of negative 3% to negative 1% for total revenue. Future guidance from the company includes the fact that IBM and other major players are giving it stiff competition in the software and cloud computing space. The company is also heavily exposed to the downturn in the European economy, and has been forced to reduce spending in R&D.
Despite optimistic guidance from software companies, shrinking of the U.S. and EU economy is a major concern for the sector since much of the earnings of this sector come from corporate products. The sector as a whole has been forced to reduce operating income and R&D spending, which will hurt the sector in the long-run.
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Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies across a variety of industries, including financial services, telecommunications, retail, pharmaceutical and media, rely on Plutora's SaaS solutions to orchestrate releases and environments faster and with integrity. Products include Plutora Release Manager, Plutora Test Environment Manager and Plutora Deployment Manager.
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