Press release
F5 Networks Announces First Quarter Fiscal Year 2020 Results including 5% Revenue Growth and 50% Software Growth
Generates First Quarter GAAP EPS of $1.62 and non-GAAP EPS of $2.55 per diluted share SEATTLE--(BUSINESS WIRE)-- F5 Networks, Inc. (NASDAQ: FFIV) today
About this update from F5, Inc.
[{"type":"text","content":"\nGenerates First Quarter GAAP EPS of $1.62 and non-GAAP EPS of $2.55 per diluted share\n\n SEATTLE--(BUSINESS WIRE)--\nF5 Networks, Inc. (NASDAQ: FFIV) today announced financial results for its fiscal first quarter ended December 31, 2019.\n\n\n“To better meet our customers’ changing application demands we have invested to deliver our world-class applications services across a wider range of deployment and consumption models,” said François, Locoh-Donou, CEO and President of F5 Networks. “As a result, customers are increasingly deploying F5 in multi-cloud environments, driving a revenue mix shift toward software. During our first quarter, customer demand for our software solutions and related services and support drove 50% software revenue growth and 5% revenue growth.”\n\n\n“Digital transformation has changed the competitive stakes for nearly every business on the planet,” continued Locoh-Donou. Customers are seeking a trusted partner that enables them to deliver new digital services to market faster, in a multi-cloud world while ensuring their applications and users remain secure. At F5, we envision a future where all businesses can deploy new applications, or make changes to existing applications in minutes, not days. We are transforming F5 to make that vision a reality for our customers; to enable, support and secure every application, across any environment, with a consistent set of enterprise-grade services.”\n\n\nFirst Quarter Performance Summary\n\n\nRevenue of $569.3 million for the first quarter of fiscal year 2020 reflects 5% growth from $543.8 million in the first quarter of fiscal year 2019, driven by software solutions revenue growth of 50%.\n\n\nGAAP net income for the first quarter of fiscal year 2020 was $98.5 million, or $1.62 per diluted share compared to first quarter fiscal year 2019 GAAP net income of $130.9 million, or $2.16 per diluted share.\n\n\nNon-GAAP net income for the first quarter of fiscal year 2020 was $155.4 million, or $2.55 per diluted share, compared to $163.5 million, or $2.70 per diluted share, in the first quarter of fiscal year 2019. Non-GAAP net income for the first quarter of fiscal year 2020 excludes $47.7 million in stock-based compensation, $8.3 million in acquisition-related charges, $7.8 million in restructuring costs, $4.6 million in amortization of purchased intangible assets, ...