F5 posted revenue of $523.2 million for its first quarter of fiscal 2018, up 1.4% from $516.0 million in the first quarter of fiscal 2017. GAAP net income for the first quarter of fiscal 2018 was $88.4 million, or $1.41 per diluted share, compared to $94.2 million, or $1.44 per diluted share in the first quarter of fiscal 2017. Excluding the impact of stock-based compensation, amortization of purchased intangible assets, and non-recurring tax expenses, non-GAAP net income for the first quarter of fiscal 2018 was $141.6 million, or $2.26 per diluted share, compared to $130.3 million, or $1.98 per diluted share in the first quarter of fiscal 2017.
“We continue to see momentum with our software offerings, driven by customers deploying our solutions on-premises and in the public cloud,” said François Locoh-Donou, F5 President and Chief Executive Officer. “The organizational changes and go-to-market initiatives we began to put into place last year are gaining momentum and we expect to see increasing benefits as the current year progresses.
“Our recent State of Application Delivery report highlights a number of emerging trends across the global application landscape. It is clear, applications and related services are taking an increasingly important role as digital transformation reshapes the modern enterprise. We are well positioned to benefit from these broader industry trends as customers require more multi-cloud support, IT automation, and application security.”
