tiprankstipranks
F5 Networks (NASDAQ: FFIV) Gains as Fiscal Q3 Results Beat Estimates
Market News

F5 Networks (NASDAQ: FFIV) Gains as Fiscal Q3 Results Beat Estimates

Shares of cloud management company, F5 (NASDAQ: FFIV) gained in pre-market trading on Tuesday after the company announced fiscal Q3 results with adjusted earnings of $3.21 per diluted share versus $2.57 in the same quarter last year and above consensus estimates of $2.86 per share.

The company’s third-quarter revenues went up by 4% year-over-year to $703 million and beating Street estimates by $2.81 million.

Looking forward, the management expects to generate revenues between $690 million and $710 million in fiscal Q4 with adjusted earnings likely to be in the range of $3.15 to $3.27 per diluted share.

François Locoh-Donou, F5’s President and CEO commented, “We are delivering the gross margin improvement and operating leverage we committed to, and we are confident in our ability to achieve our target of double-digit non-GAAP earnings growth for fiscal year 2023.”

Analysts are cautiously optimistic about FFIV stock with a Moderate Buy consensus rating based on one Buy and two Holds.

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
F5 Networks (NASDAQ: FFIV) Gains as Fiscal Q3 Results Beat Estimates
News On DemandStay up-to-date on market-moving news with a feed made just for youGet the App

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
RUT
Russell 2000
TNX
10-Yr-Bond
Bitcoin

Popular Articles