F5 Networks (FFIV) Tops Q4 EPS by 6c; Guides Above Views

F5 Networks (NASDAQ: FFIV) reported Q4 EPS of $2.43, $0.06 better than the analyst estimate of $2.37. Revenue for the quarter came in at $615 million versus the consensus estimate of $606.29 million.

"F5 is well on its way to becoming a software-led business, with customer demand for our multi-cloud application security and delivery services driving 5% GAAP and non-GAAP annual revenue growth in fiscal year 2020,” said François Locoh-Donou, president and CEO of F5. “Going forward, we expect continued robust software growth from a more diversified base of subscription and SaaS revenue, a software subscription renewals flywheel that is starting to turn with momentum, and true-forward revenue opportunities on a significant percentage of our long-term software subscription contracts.”

“We have prioritized our innovation and investment to focus on solving our customers’ most pressing application challenges,” continued Locoh-Donou. “New ways of working and higher consumer expectations for application performance along with exploding application growth have created new challenges for customers that F5 is uniquely positioned to address.”

GUIDANCE:

F5 Networks sees Q1 2021 EPS of $2.26-$2.38, versus the consensus of $2.28. F5 Networks sees Q1 2021 revenue of $595-615 million, versus the consensus of $592.8 million.

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

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