investing.com -- F5 Networks reported Tuesday annual revenue guidance that fell just shy of Wall Street estimates despite delivering better-than-expected fiscal fourth-quarter results amid an ongoing boost from its transition away from hardware to services and software.
F5 Networks Inc (FFIV) was flat in afterhours trading following the report.
F5 Networks reported adjusted EPS of $3.50 on revenue of $706.8 million. Analysts polled by Investing.com anticipated EPS of $3.21 on revenue of 701.5M.
The company which is in the midst of a transition of from a hardware to a software company
For the first quarter of fiscal year 2024, F5 guided revenue in the range of $675 million to $695 million, with non-GAAP earnings in the range of $2.97 to $3.09 per diluted share. That compared with analyst estimates for EPS of $3.03 on revenue of $696.8 million.
Looking further ahead to fiscal 2024, the company forecasts a flat to low-single-digit percentage decline in revenue form a year earlier.