F5 Inc. reported Q2 FY24 earnings with revenue of $681M.

F5 Inc. reported Q2 FY24 earnings with revenue of $681M (down 3% YoY) and net income of $119M, both missing analyst estimates. EPS (GAAP) of $2.00 exceeded expectations, while Non-GAAP EPS of $2.91 also surpassed estimates. Gross margin improved to 82.1%. Software revenue grew 20% to $159M, driven by a 28% increase in subscription revenue. F5's Q3 guidance is $2.89-$3.01 EPS and FY24 guidance is $12.52-$12.75 EPS.

April 29, 2024
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