NetScout Q2 revenue down 13.7% to $196.8M; FY2024 guidance lowered on slowing order conversion

NETSCOUT SYSTEMS INC

2024-Q2 EPS reported $0.24 revenue$407,940,000

Q2 revenue $196.8M vs $228.1M YoY; product revenue fell 28% to $80.5M, service revenue flat at $116.3M.
GAAP EPS $0.29 vs $0.24; non-GAAP EPS $0.61 vs $0.57; operating margins improved despite lower revenue.
FY2024 revenue guidance cut to $840-860M from $915-945M; non-GAAP EPS guided $2.00-2.20 from $2.20-2.32.
CEO cites industry headwinds and slowing order conversion late in Q2; expects persistence into H2; cost actions taken.
Repurchased 1.1M shares for $31.2M; cash and securities $332.6M, $100M drawn on $800M revolver.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NETSCOUT SYSTEMS INC reported second quarter of fiscal year 2024 ended September 30, 2023 results: revenue $196.8 million, net income $21.5 million, or $0.29 per share (diluted), EPS $0.29 per share (diluted).

Period: second quarter of fiscal year 2024 ended September 30, 2023
Revenue: $196.8 million
Net income: $21.5 million, or $0.29 per share (diluted)
EPS: $0.29 per share (diluted)
Result: reported results

Exact text from the filing

Total revenue (GAAP and non-GAAP) for the second quarter of fiscal year 2024 was $196.8 million

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Source: SEC EDGAR

accession 0001157523-23-001619

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