The softwarization of networks promises cost savings and better scalability of network functions by moving functionality from specialized devices into commercial off-the-shelf hardware. Generalized computing hardware offers many degrees for adjustment and tuning, which can affect performance and resource utilization. One of these adjustments are the interrupt moderation techniques implemented by modern network interface cards and operating systems. Using these, an administrator can optimize either lower latencies or lower CPU overhead for processing of network traffic. In this work, an analytical model that allows computing relevant performance metrics like the packet processing time and the packet loss for generic virtualized network functions running on commodity hardware is developed. The applicability of the model is shown by comparing its outcome with measurements conducted in a local testbed featuring a VNF that acts as an LTE Serving Gateway (SGW). Based on this model, impact factors like the average packet interarrival time, the interarrival time distribution, and the duration of the interrupt aggregation interval are studied.