F5 Networks Earnings: FFIV Stock Ticks 2% Higher on Q3 Beat

F5 Networks (NASDAQ:FFIV) earnings for the networking company’s fiscal third quarter of 2020 have FFIV stock up after-hours Monday. That’s due to its adjusted earnings per share of $2.18 beating out Wall Street’s estimate of $2.03. Its revenue of $583.25 million is also better than analysts’ estimates of $572.44 million.

The front of the F5 Networks (FFIV) office in Silicon Valley, California.
Source: Michael Vi / Shutterstock.com

Here are some additional highlights from the most recent F5 Networks earnings report.

  • Adjusted per-share earnings are down 13.5% from $2.52 in the same period of the year prior.
  • Revenue for the quarter comes in 3.5% higher than the $563.39 reported in the fiscal third quarter of 2019.
  • Operating income of $87.62 million is a 14.7% decrease year-over-year from $102.74 million.
  • The F5 Networks earnings report also has net income coming in at $69.87 million.
  • That’s an 18.7% drop from the company’s net income of $85.91 million reported during the same time last year.

François Locoh-Donou, president and CEO of F5 Networks, said the following in the earnings report.

“Large enterprise customers are accelerating their digital transformations, increasing their digital engagement, and boosting capacity and security on customer facing applications and on platforms that enable employee collaboration. Demand for solutions to meet these immediate and long-term business requirements drove 4% GAAP and non-GAAP revenue growth, and 43% non-GAAP software revenue growth in our third quarter.”

F5 Networks provides guidance for fiscal Q4 of 2020 in the earnings report. It expects adjusted EPS to range from $2.30 to $2.42 on revenue between $595 million and $615 million. Wall Street’s estimates are for adjusted EPS of $2.26 on revenue of $598.2 million for the quarter.

FFIV stock was up 1.8% after markets closed on Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/f5-networks-earnings-bump-stock-up/.

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