UPDATE 1-F5 Networks raises Q2 profit outlook, shares up

* Raises Q2 EPS view to $0.23 to $0.24

* Sees Q2 EPS of $0.37 to $0.38 excl items

* Sees Q2 rev of $154.1 mln, below prior outlook

* Shares rise 6.5 pct

April 7 (Reuters) - Network-equipment maker F5 Networks Inc (FFIV.O) raised its second-quarter profit outlook, but said revenue would fall short of its earlier expectations.

Shares of the company were up more than 6 percent in trading after the bell.

The company also raised the lower end of its previous profit outlook range excluding items.

For the second quarter ended March 31, F5 now expects a profit of 23 cents to 24 cents a share, up from its earlier outlook of 19 cents to 21 cents a share.

It expects revenue of $154.1 million, below its earlier view of $157 million to $164 million.