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Mar 31, 2021
F5 Q2 2021 Earnings Report
Delivered second consecutive quarter of double-digit revenue growth with 19% GAAP and 18% Non-GAAP product revenue growth.
Key Takeaways
F5's Q2 FY21 shows strong financial performance with an 11% increase in GAAP revenue, driven by significant growth in product revenue, particularly in software and systems. The company is benefiting from the increasing reliance on applications and the acceleration of digital transformation.
GAAP revenue was $645 million, up 11% year-over-year.
Non-GAAP product revenue grew by 18%, fueled by 20% software revenue growth and 17% systems revenue growth.
GAAP net income was $43 million, or $0.70 per diluted share.
Non-GAAP net income was $155 million, or $2.50 per diluted share.
Revenue by Segment
Forward Guidance
For the third quarter of fiscal year 2021 ending June 30, 2021, F5 expects to deliver revenue in the range of $620 million to $650 million, with non-GAAP earnings in the range of $2.36 to $2.54 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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