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F5, Inc. (NASDAQ:FFIV) reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates on Monday.
F5 reported quarterly earnings of $3.36 per share, which beat the analyst consensus estimate of $2.97 per share. Quarterly sales came in at $695.495 million, which beat the analyst consensus estimate of $686.062 million, according to data from Benzinga Pro.
"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."
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%.
F5 shares gained 0.1% to close at $177.59 on Monday.
These analysts made changes to their price targets on F5 following the announcement.
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Posted In: FFIV