F5 Networks beats by $0.11, beats on revs; guides Q2 revs below consensus; guides FY22 revs below consensus
- Reports Q1 (Dec) earnings of $2.89 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $2.78; revenues rose 9.8% year/year to $687.1 mln vs the $678.08 mln S&P Capital IQ Consensus.
- Co issues downside guidance for Q2, sees Q2 revs of $610-$650 mln vs. $694.19 mln S&P Capital IQ Consensus.
- Co issues downside guidance for FY22, sees FY22 revs +4.5% to +8% (down from prior +8% to +9%) which equates to about $2.72-$2.81 bln vs. $2.82 bln S&P Capital IQ Consensus.
- "While demand for its solutions remains robust, the Company expects that its ability to meet customers' continued strong demand for systems will be restricted by supply chain constraints for the remainder of fiscal year 2022. As a result, it expects fiscal second quarter revenue in a range of $610 to $650 million. It further expects fiscal year 2022 revenue growth in a range of 4.5% to 8%, down from its prior expectation of 8% to 9% growth. The Company expects fiscal year 2022 software revenue growth near the top end of its previously provided 35% to 40% guidance range, and fiscal year 2022 global services revenue growth of 1% to 2%."
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