F5(US:FFIV)2023-04-20 00:54Q2FY23 Performance - F5 delivered Q2 revenue of $703 million, which was at the midpoint of guidance[3, 68] - Non-GAAP EPS for Q2 was $2.53, exceeding the high end of the guidance range[5, 71] - Q2FY23 GAAP net income was $814 million, compared to $562 million in Q2FY22[3] - Q2FY23 GAAP diluted net income per common share was $134, compared to $092 in Q2FY22[3] Revenue and Growth - Total revenue in Q2FY23 was $7032 million, compared to $6342 million in Q2FY22[3] - Systems revenue grew by 43% in Q2FY23[96, 101] - Software revenue decreased by 13% in Q2FY23[96, 101] - Global Services revenue increased by 8% in Q2FY23[70, 101] - Product revenue increased by 14% in Q2FY23[96, 101] Future Outlook and Strategy - The company expects to repurchase at least $250 million worth of shares during Q3FY23[48] - F5 expects to deliver approximately 30% non-GAAP operating margins and 7% to 11% non-GAAP earnings growth in FY23[9] - Q3FY23 revenue is guided to be between $690 million and $710 million[25, 118]