F5 reported revenue of $703 million for its third fiscal quarter, up 4% from $674 million in fiscal year 2022. Global services revenue grew 8% from the year-ago period while product revenue grew 1%, reflecting 5% systems revenue growth and software revenue that was down 3% from the year-ago period.
GAAP net income for the third quarter of fiscal year 2023 was $89 million, or $1.48 per diluted share compared to $83 million, or $1.37 per diluted share, in the third quarter of fiscal year 2022. Non-GAAP net income for the third quarter of fiscal year 2023 was $194 million, or $3.21 per diluted share, compared to $155 million, or $2.57 per diluted share, in fiscal year 2022.
“In an environment that remains challenged by macroeconomic uncertainty, our team is executing well, delivering third-quarter revenue at the midpoint of our guidance range and earnings per share well above the high end of our guidance range,” said François Locoh-Donou, F5’s President and CEO. “We are seeing some early signs of demand stabilization as customers look to F5 to help them secure and optimize the applications and APIs that power their businesses.”
