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Dec 31, 2021
NetScout Q3 2022 Earnings Report
Reported strong financial performance driven by increased enterprise customer demand and acceleration of service provider customer orders.
Key Takeaways
NETSCOUT delivered strong financial results for Q3 FY22, with revenue increasing by more than 14% compared to the prior year's third quarter. The company raised its revenue mid-point and increased its EPS target ranges for the full fiscal year 2022.
Total revenue was $262.2 million, compared to $228.7 million in the same quarter one year ago.
GAAP net income was $47.7 million, or $0.64 per share (diluted), versus net income of $29.0 million, or $0.39 per share (diluted), for the third quarter of fiscal year 2021.
Non-GAAP net income was $66.5 million, or $0.89 per share (diluted), compared with $48.9 million, or $0.66 per share (diluted), for the third quarter of fiscal year 2021.
NETSCOUT updated its full-year outlook, raising its revenue mid-point and increasing its EPS target ranges.
NetScout
NetScout
NetScout Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
NETSCOUT updated its outlook for the full fiscal year, raising its revenue (GAAP and non-GAAP) mid-point and increasing its diluted net income per share (GAAP and non-GAAP) outlook for fiscal year 2022.
Positive Outlook
- GAAP and non-GAAP revenue is expected to be in the range of $850 million to $855 million, compared with the previous range of $835 million to $865 million.
- GAAP net income per share (diluted) is expected to be in the range of $0.40 to $0.43, compared with the previous range of $0.36 to $0.42.
- Non-GAAP net income per share (diluted) is expected to be in the range of $1.75 to $1.78, compared with the previous range of $1.71 to $1.77.
- The update reflects NETSCOUT’s expectation for lower product revenue in the fourth quarter of fiscal year 2022 due to its customers’ acceleration of service provider deals and early booking of product revenue of approximately $25 million to $30 million from the fourth quarter into the third quarter of fiscal year 2022.
- NETSCOUT anticipates that it will exit the fourth quarter with a similar product backlog of unshipped orders to that of the third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income