F5 Q3 2022 Earnings Report
Key Takeaways
F5's Q3 2022 earnings showed a 4% increase in revenue compared to the previous year, reaching $674 million. The growth was primarily driven by a 38% increase in software revenue, while systems revenue declined due to semiconductor shortages. The company's GAAP net income was $83 million, or $1.37 per diluted share, while non-GAAP net income was $155 million, or $2.57 per diluted share.
Total revenue grew by 4% year-over-year to $674 million.
Product revenue increased by 5% year-over-year, including 38% growth in software revenue.
Systems revenue declined by 18% year-over-year due to semiconductor shortages.
GAAP net income was $83 million, or $1.37 per diluted share, while non-GAAP net income was $155 million, or $2.57 per diluted share.
F5
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F5 Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2022, F5 expects to deliver revenue in the range of $680 million to $700 million, with non-GAAP earnings in the range of $2.45 to $2.57 per diluted share.