F5 Networks (NASDAQ: FFIV) reported Q2 EPS of $2.53, $0.11 better than the analyst estimate of $2.42. Revenue for the quarter came in at $703 million versus the consensus estimate of $698.85 million.

GUIDANCE:

F5 Networks sees Q3 2023 EPS of $2.78-$2.90, versus the consensus of $3.05. F5 Networks sees Q3 2023 revenue of $690-710 million, versus the consensus of $747 million.

• “Given the persistent macro uncertainty and its impact on customer spending, we now expect low-to-mid single-digit revenue growth in fiscal year 2023 with non-GAAP operating margins of approximately 30% and non-GAAP earnings growth of 7% to 11%,” continued Locoh-Donou.
• For the third quarter of fiscal year 2023, F5 expects to deliver revenue in the range of $690 million to $710 million, with non-GAAP earnings in the range of $2.78 to $2.90 per diluted share.
• The Company has previously committed to returning cash to shareholders by using at least 50% of its annual free cash flow toward share repurchases. As of the date of this report, the Company had $1.23 billion remaining under its currently authorized common stock repurchase program and announced it plans to repurchase at least $250 million worth of shares during the third quarter of fiscal year 2023.

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