F5, Inc. (NASDAQ: FFIV), a multi-cloud application services and security company, on Monday announced financial results for the third quarter of 2023.
- Third-quarter revenue grew 4% to $703 million from $674 million in the same period of fiscal year 2022
- Global services revenue moved up 8% and product revenue rose 1% in the June quarter, reflecting a 5% systems revenue growth
- Net income, on a reported basis, was $89 million or $1.48 per share in Q3, compared to $83 million or $1.37 per share in the third quarter of 2022
- Third quarter adjusted profit increased to $194 million or $3.21 per share from $155 million or $2.57 per share last year
- Gross profit came in at $561 million during the three-month period, representing a gross margin of 79.8%
- For the fourth quarter, the company expects to deliver revenue in the range of $690 million to $710 million
- The management is looking for adjusted earnings in the range of $3.15 per share to $3.27 per share in Q4
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