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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!