F5 posts revenue of $544 million, up 4% yoy

F5 Networks reported $543.8 million for its first quarter of fiscal year 2019, up 4% from $523.2 million in the first quarter of fiscal year 2018. Growth compared with the first quarter of fiscal year 2018 was driven by continued momentum in software solutions, which drove year over year product revenue growth for the third consecutive quarter.

GAAP net income for the first quarter of fiscal year 2019 was $130.9 million, or $2.16 per diluted share, compared to $88.4 million, or $1.41 per diluted share, in the first quarter of fiscal year 2018. Non-GAAP net income for the first quarter of fiscal year 2019 was $163.5 million, or $2.70 per diluted share, compared to $141.6 million, or $2.26 per diluted share, in the first quarter of fiscal year 2018.

For its Q2 of fiscal year 2019, ending March 31, 2019, F5 set a revenue goal of $543 million to $553 million with a non-GAAP earnings target of $2.53 to $2.56 per diluted share.