F5, Inc. FFIV shares are climbing after the company reported its third-quarter financial results Monday. Here's a look at the details from the report.
The Details: F5 reported quarterly earnings of $3.36 per share, which beat the analyst consensus estimate of $2.97 by 13.13%. Quarterly sales came in at $695.495 million, which beat the analyst consensus estimate of $686.062 million by 1.37%.
Software revenue of $179 million grew 3% from the year-ago period. Systems revenue of $130 million represented a decline of 16% from the prior year. Global services revenue of $387 million grew 3% from the year-ago period. Gross margin was 83.1%.
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“We delivered third-quarter revenue at the top end of our guidance range fueled by software growth and continued growth of our global services offerings,” said François Locoh-Donou, F5’s president and CEO. “In addition, our continued operating discipline enabled us to deliver earnings per share well above the high end of our guidance.”
Outlook: F5 said that based on visibility to fourth-quarter software demand, it now expects fiscal year revenue toward the top end of prior expectations at approximately $2.8 billion, or roughly flat with last year. F5 also raised its fiscal year earning growth expectations and now expects to deliver approximately 12% earnings growth, up from the prior growth outlook of 7% to 9%.
FFIV Price Action: According to Benzinga Pro, F5 shares are up 13.63% after-hours at $201.80 at the time of publication Monday.
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