F5 Q3 2024 Earnings Report
Key Takeaways
F5 reported strong Q3 FY24 results, with revenue at the top end of its guidance range, driven by software growth and global services. The company is raising its earnings growth expectations for the year, expecting approximately 12% non-GAAP earnings per share growth compared to fiscal year 2023.
Q3 revenue totaled $695 million, compared to $703 million in the third quarter of fiscal year 2023.
Software revenue grew 3% year-over-year to $179 million.
Global services revenue increased 3% year-over-year to $387 million.
GAAP EPS was $2.44, compared to $1.48 in the third quarter of fiscal year 2023.
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F5 Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2024, F5 expects to deliver revenue in the range of $720 million to $740 million, with non-GAAP earnings in the range of $3.38 to $3.50 per diluted share. F5 now expects fiscal year 2024 revenue toward the top end of its prior expectations, at approximately $2.8 billion. They now expect to deliver approximately 12% non-GAAP earnings per share growth compared to fiscal year 2023.
Positive Outlook
- Revenue in the range of $720 million to $740 million.
- Non-GAAP earnings in the range of $3.38 to $3.50 per diluted share.
- Fiscal year 2024 revenue toward the top end of its prior expectations, at approximately $2.8 billion.
- Approximately 12% non-GAAP earnings per share growth compared to fiscal year 2023.