Home / Networking / F5 Networks satisfies second quarter earnings targets, guidance strong

F5 Networks satisfies second quarter earnings targets, guidance strong


F5 Networks on Monday https://www.businesswire.com/news/home/20200427005811/en/%C2%A0F5-Delivers-7-Revenue-Growth-Quarter-Fiscal better-than-expected second quarter financial results. The company reported non-GAAP net income of $135.9 million, or $2.23 per diluted share, on revenue of $585.6 million.

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Wall Street was looking for earnings of $1.95 per share on revenue of $559 million.

F5 CEO François Locoh-Donou noted in his prepared remarks that the company has seen an increased demand for capacity as customers scale remote access capabilities for employees working from home. 

“With 65% recurring revenue, $182 million in cash flow from operations and cash and investments totaling $1 billion at the end of our second quarter, we can weather the economic uncertainty resulting from the COVID-19 pandemic and we are confident our multi-cloud vision, our investments, and our innovation are well aligned with both near- and longer-term customer demand,” Locoh-Donou said.

For the current quarter, F5 has set a revenue goal of $555 million to $585 million with a non-GAAP earnings target of $1.91 to $2.13 per diluted share. Wall Street is expecting revenue of $546.8 million and EPS of $1.84.

F5 shares were up over 7% after hours. 

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I'm a 50 year old PLC programmer from Burnley, UK. I severed my time as an electrician in the baking industry and soon got involved with the up and coming technology of PLC's. Initially this was all based in the Uk but as the years went by I have gradually worked my way around the globe. At first it was mainly Mitsubishi with a bit of Modicon thrown in but these days the industry leaders seem to be the Allen Bradley range of PLC and HMI’s.

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