NetScout Systems Misses On Q1 Earnings, Reaffirms FY22 Outlook

NetScout Systems Inc NTCT reported first-quarter FY22 revenue growth of 3.5% year-on-year to $190.3 million, missing the analyst consensus of $208.44 million.
Product revenue rose 14.3% Y/Y to $81.95 million, and Service revenue declined 3.4% Y/Y to $108.3 million.
Non-GAAP EBITDA margin remained consistent at 14.5%, while the Non-GAAP operating margin expanded 20 bps to 11.4%.
Non-GAAP EPS of $0.20 missed the analyst consensus of $0.39.
NetScout held $493.9 million in cash and equivalents.
Robust Q1 product revenue growth in both the Service Assurance and Cybersecurity product lines drove the overall revenue increase and improved diluted EPS Y/Y, CEO Anil Singhal stated.
Outlook: NetScout re-affirmed FY21 revenue guidance of $835 million - $865 million compared to the analyst consensus of $851.74 million. It sees non-GAAP EPS of $1.71 - $1.77 versus the analyst consensus of $1.74.
Price action: NTCT shares traded higher by 1.35% at $29.37 on the last check Thursday.

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