F5 Networks Reports Strong Q4 Results with $747 Million Revenue, Stock Surges 11%

Oct 28, 2024, 08:15 PM

F5 Networks reported strong fourth-quarter and fiscal year 2024 results, with revenue totaling $747 million, up from $707 million in the same quarter last year. The company achieved a GAAP net income of $165 million, or $2.80 per diluted share. Analysts had expected an EPS of $3.45 and revenue of $730.39 million. CEO François Locoh-Donou highlighted the company's success in surpassing software growth expectations and maintaining operational discipline, leading to double-digit EPS growth for the year. The board authorized an additional $1 billion for share repurchases. F5 Networks' stock, which has doubled in 18 months, surged 11% in after-hours trading after the announcement.