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- F5 (NASDAQ:FFIV) has jumped 14.6% after hours following its fiscal third-quarter earnings beat, where it posted particularly strong non-GAAP profits and grew revenues 4% as well as issued upbeat guidance.
- Revenues hit $674M, and product revenues grew 5% (including 38% growth in software revenues).
- The company also authorized an additional $1B for its stock repurchase program, incremental to $272M remaining authorization under its existing program.
- Non-GAAP net income dipped to $155M from a year-ago $169M.
- “Demand for security across all customer verticals fueled sales in our third quarter resulting in 4% total revenue growth despite ongoing semiconductor shortages," said CEO/President François Locoh-Donou. The company has a strong fourth-quarter pipeline, he notes, and that means "increased confidence in our ability to deliver sustained revenue and earnings growth.”
- F5 (FFIV) expects its fourth-quarter revenues to come in at $680M-$700M, with earnings of $2.45-$2.57 per share - well above consensus for $2.28 per share.
- Conference call to come at 4:30 p.m. ET.