FFIV - Why Is Technology Company F5 Stock Rocketing Premarket Tuesday? | Benzinga
F5 Inc (NASDAQ:FFIV) shares are trading higher after the company reported first-quarter FY24 results.
Revenue declined 1% Y/Y to $693 million, beating the consensus of $685.3 million.
Global services revenue rose 7% Y/Y, while product revenue fell 10% Y/Y, reflecting software revenue growth of 2% Y/Y and systems revenue decline of 22% Y/Y.
Adjusted gross profit increased to $575 million from $563 million a year ago, with an adjusted gross margin of 83.1% (vs. 80.4% a year ago).
Adjusted operating profit rose to $246 ...