F5 Networks annual revenue guidance falls short after Q4 results beat estimates
investing.com -- F5 Networks reported Tuesday annual revenue guidance that fell just shy of Wall Street estimates despite delivering better-than-expected fiscal fourth-quarter results amid an ongoing boost from its transition away from hardware to services and software.
F5 Networks Inc (NASDAQ:FFIV) was flat in afterhours trading following the report.
F5 Networks reported adjusted EPS of $3.50 on revenue of $706.8 million. Analysts polled by Investing.com anticipated EPS of $3.21 on revenue of 701.5M.
The company which is in the midst of a transition of from a hardware to a software company
For the first quarter of fiscal year 2024, F5 guided revenue in the range of $675 million to $695 million, with non-GAAP earnings in the range of $2.97 to $3.09 per diluted share. That compared with analyst estimates for EPS of $3.03 on revenue of $696.8 million.
Looking further ahead to fiscal 2024, the company forecasts a flat to low-single-digit percentage decline in revenue form a year earlier.
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