F5 Networks (FFIV) Tops Q3 EPS by 15c; Guides Q4 Above Views

F5 Networks (NASDAQ: FFIV) reported Q3 EPS of $2.18, $0.15 better than the analyst estimate of $2.03. Revenue for the quarter came in at $586 million versus the consensus estimate of $572.44 million.

“Large enterprise customers are accelerating their digital transformations, increasing their digital engagement, and boosting capacity and security on customer facing applications and on platforms that enable employee collaboration,” said François Locoh-Donou, CEO and President of F5. “Demand for solutions to meet these immediate and long-term business requirements drove 4% GAAP and non-GAAP revenue growth, and 43% non-GAAP software revenue growth in our third quarter.”

“Customers continue to look to F5 to enable their mission-critical application needs and increasingly, are deploying a combination of F5 solutions spanning our F5, NGINX and Shape multi-cloud application services portfolio,” continued Locoh-Donou. “In a challenging COVID-19 environment, our deep incumbency and close alignment with customers’ investment priorities are proving distinct competitive advantages and driving resiliency in our business.”

GUIDANCE:

F5 Networks sees Q4 2020 EPS of $2.30-$2.42, versus the consensus of $2.26. F5 Networks sees Q4 2020 revenue of $595-615 million, versus the consensus of $598.2 million.

For earnings history and earnings-related data on F5 Networks (FFIV) click here.

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