F5 Reports Third Quarter Fiscal Year 2024 Revenue at the Top End of its Guidance Range; Expects Fiscal Year 2024 Revenue of ~$2.8 Billion Based on Software Strength; Raises Earnings Growth Outlook

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[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nF5, Inc. (NASDAQ: FFIV) today announced financial results for its third quarter ended June 30, 2024.\n\n\n“We delivered third quarter revenue at the top end of our guidance range fueled by software growth and continued growth of our global services offerings,” said François Locoh-Donou, F5’s President and CEO. “In addition, our continued operating discipline enabled us to deliver earnings per share well above the high end of our guidance.”\n\n\n“F5 is proving itself an invaluable partner as large enterprises across the globe modernize their IT infrastructures and drive IT cost savings,” said Locoh-Donou. “F5 is optimizing application security, delivery, management, and performance across hybrid, multicloud environments with enhanced automation and meaningful operational efficiencies. We are also partnering with several large enterprise customers as they begin to ready their IT infrastructure to leverage AI at scale.”\n\n\nThird Quarter Performance Summary\n\n\nThird quarter fiscal year 2024 revenue totaled $695 million, compared with $703 million in the third quarter of fiscal year 2023. Software revenue of $179 million grew 3% from the year-ago period. Systems revenue of $130 million represented a decline of 16% from the prior year. Global services revenue of $387 million grew 3% from the year-ago period.\n\n\nGAAP gross profit for the third quarter of fiscal year 2024 was $559 million, representing GAAP gross margin of 80.4%. This compares with GAAP gross profit of $561 million in the year-ago period, which represented GAAP gross margin of 79.8%. Non-GAAP gross profit for the third quarter of fiscal year 2024 was $578 million, representing non-GAAP gross margin of 83.1%. This compares with non-GAAP gross profit of $579 million in the year-ago period, which represented non-GAAP gross margin of 82.5%.\n\n\nGAAP operating profit for the third quarter was $163 million, representing GAAP operating margin of 23.4%. This compares with GAAP operating profit of $104 million in the year-ago period, which represented GAAP operating margin of 14.7%. Non-GAAP operating profit for the period was $233 million, representing non-GAAP operating margin of 33.4%. This compares to non-GAAP operating profit of $233 million in the year-ago period, which represented non-GAAP operating margin of 33.2%.\n\n\nGAAP net income...

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