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Netscout Systems (NTCT) Q2 FY2024 earnings: revenue $197 million, down 13.7% on the year

Netscout Systems Inc. (NTCT) reported revenue of $197 million for Q2 FY2024, the quarter ended 30 September 2023, down 13.7% on the same quarter a year earlier. Net income was $21 million, up 23.5% on the year, and diluted earnings per share $0.29. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$197 milliondown 13.7%
Net income$21 millionup 23.5%
Diluted EPS$0.29
QuarterQ2 FY2024ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Revenue197n/an/an/a
Cost of revenue43.1n/an/an/a
Gross profit154n/an/an/a
Gross margin78.1%n/an/a
Research and development35.1n/an/an/a
Operating income26.3n/an/an/a
Operating margin13.4%n/an/a
Interest expense2.2n/an/an/a
Pre-tax income27.5n/an/an/a
Income tax6.0n/an/an/a
Effective tax rate21.9%n/an/a
Net income21.5n/an/an/a
Net margin10.9%n/an/a
Diluted EPS$0.29n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Operating cash flow-26.4n/an/an/a
Capital expenditure1.5n/an/an/a
Free cash flow-27.9n/an/an/a
Free cash flow margin-14.2%n/an/a
Cash from investing12.2n/an/an/a
Cash from financing-36.4n/an/an/a
Depreciation and amortisation19.0n/an/an/a
Share-based compensation18.4n/an/an/a
Buybacks31.1n/an/an/a
Diluted shares, weighted73mn/an/an/a
Shares outstanding at period end72mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Shareholders' equity2,040n/an/an/a
Debt100n/an/an/a
Operating lease liabilities43.7n/an/an/a
Other liabilities514n/an/an/a
Total liabilities and equity2,698n/an/an/a
Fixed assets30.6n/an/an/a
Goodwill1,722n/an/an/a
Intangible assets336n/an/an/a
Investments4.0n/an/an/a
Cash and equivalents280n/an/an/a
Receivables153n/an/an/a
Inventory15.9n/an/an/a
Other assets156n/an/an/a
Total assets2,698n/an/an/a

Questions

What was Netscout Systems' revenue in Q2 FY2024?

Netscout Systems (NTCT) reported revenue of $197 million for Q2 FY2024, the quarter ended 30 September 2023, down 13.7% on the same quarter a year earlier.

How much did Netscout Systems earn in Q2 FY2024?

Net income for Q2 FY2024 was $21 million, up 23.5% on the year, and diluted earnings per share $0.29.

When did Netscout Systems report Q2 FY2024 results?

Netscout Systems filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 2 November 2023.

Quarterly results, the last 12 quarters

Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue197218203175191252205187219251203210
Cost of revenue43.143.650.344.442.146.645.743.443.646.043.944.5
Gross profit154174153130149205159143175205159166
Gross margin78%80%75%75%78%82%78%77%80%82%78%79%
R&D35.137.043.642.535.937.836.739.840.339.639.842.4
Operating income26.3-134-37.0-46314.161.719.9-6.632.564.319.614.5
Operating margin13%-62%-18%-265%7%24%10%-4%15%26%10%7%
Interest expense2.22.22.21.91.82.60.80.40.40.50.40.4
Pre-tax income27.5-134-32.9-45412.357.418.2-2.831.466.623.319.0
Tax rate22%n/an/an/a27%15%-2%n/a18%17%22%-15%
Net income21.5-133-32.4-4439.048.818.6-3.725.855.118.221.8
Net margin11%-61%-16%-254%5%19%9%-2%12%22%9%10%
Diluted EPS$0.29-$1.87-$0.46-$6.20$0.13$0.67$0.25-$0.05$0.35$0.75$0.25$0.29
Operating cash flow-26.414.093.638.4-3.741.514273.66.762.115250.8
Capital expenditure1.51.21.61.30.91.91.41.92.22.82.23.5
Free cash flow-27.912.792.037.2-4.639.614071.74.459.315047.3
Buybacks31.118.90.025.00.30.00.015.016.60.029.20.0
Shares outstanding72m71m71m71m72m72m72m73m72m72m72m73m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0001628280-23-036391: the filing on EDGAR. All of Netscout Systems Inc.'s filings: EDGAR company page.

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