04:42 PM EDT, 04/29/2024 (MT Newswires) -- F5 (FFIV) reported fiscal Q2 non-GAAP earnings late Monday of $2.91 per diluted share, up from $2.53 a year earlier.

Analysts surveyed by Capital IQ expected $2.87.

Revenue for the quarter ended March 31 was $681.4 million, down from $703.2 million a year earlier.

Analysts surveyed by Capital IQ expected $684.3 million.

The company said it expects fiscal Q3 non-GAAP EPS of $2.89 to $3.01 on revenue of $675 million to $695 million. Analysts surveyed by Capital IQ expect $3.11 and $696.5 million.

F5 expects fiscal year 2024 non-GAAP EPS growth of 7% to 9%, compared with its prior outlook of 6% to 8%. Analysts surveyed by Capital IQ expect non-GAAP EPS of $12.60. The company expects 2024 revenue growth of flat to down 2%, consistent with its prior outlook of "flat to low-single-digit decline." Analysts surveyed by Capital IQ expect revenue of $2.79 billion.

Shares of the company dropped 10.8% in after-hours trading.

Price: 162.40, Change: -19.73, Percent Change: -10.83