NETSCOUT SYSTEMS Reports Earnings for First Quarter of FY2024
August 2, 2023
🌥️Earnings Overview
At the end of June 30, 2023, NETSCOUT SYSTEMS ($NASDAQ:NTCT) released its earnings report for the first quarter of FY2024. Revenue for the quarter amounted to USD 211.1 million, a 1.1% increase from the same period of the prior year. Net income was USD -4.2 million, a decrease from the prior year’s loss of -7.1 million.
Market Price
The stock opened at $30.1 and closed at $28.2, representing a 4.1% decrease from the previous closing price of $29.4. Despite the downward trend, the company was still able to report strong earnings due to their innovative products and services. This growth was mainly attributed to their subscription-based services, which have seen an increase in demand due to the current digital transformation trends. The company’s innovative products and services have allowed them to maintain strong revenues and increased cash flows, which is positive news for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Netscout Systems. More…
| Total Revenues | Net Income | Net Margin |
| 916.86 | 62.58 | 6.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Netscout Systems. More…
| Operations | Investing | Financing |
| 156.65 | 15.3 | -419.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Netscout Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.73k | 699.39 | 28.51 |
Key Ratios Snapshot
Some of the financial key ratios for Netscout Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.0% | 39.5% | 9.0% |
| FCF Margin | ROE | ROA |
| 15.9% | 2.5% | 1.9% |
Analysis
At GoodWhale, we have taken a close look at the fundamentals of NETSCOUT SYSTEMS. After our analysis, we have determined that it is a high risk investment in terms of its financial and business aspects. We have detected 2 risk warnings in the income statement and balance sheet, so we recommend that potential investors be aware of these risks before making any decisions. To get a better understanding of NETSCOUT SYSTEMS, we invite you to register on our website goodwhale.com. There you can access detailed reports on NETSCOUT SYSTEMS and other companies. More…
Peers
The company’s solutions enable customers to ensure optimal service delivery and secure their networks against sophisticated cyber threats. NetScout’s award-winning products are used by Fortune 500 companies and government agencies worldwide. Corero Network Security PLC, Allot Ltd, Hillstone Networks Co Ltd are all leading competitors in the network security and performance management market.
– Corero Network Security PLC ($LSE:CNS)
Corero Network Security PLC is a publicly traded company with a market capitalization of 49.85 million as of 2022. The company has a return on equity of 10.96%. Corero Network Security PLC is engaged in the business of providing network security solutions. The company’s products and services include network security products and services, malware detection and prevention products and services, and managed security services.
– Allot Ltd ($NASDAQ:ALLT)
Allot Ltd is a company that provides communications and internet services. The company has a market capitalization of 162.32 million as of 2022 and a return on equity of -8.76%. Allot Ltd offers a variety of services such as broadband, fixed-line, and mobile services. The company has a wide array of products and services that it offers to its customers. Allot Ltd is a publicly traded company and is listed on the NASDAQ Stock Exchange.
– Hillstone Networks Co Ltd ($SHSE:688030)
Hillstone Networks Co Ltd is a Chinese multinational networking and cybersecurity equipment company headquartered in Shanghai, China. It is a provider of network security solutions for enterprises, data centers, and service providers. The company has a market cap of 4B as of 2022 and a Return on Equity of 2.03%.
Summary
On June 30, 2023, NETSCOUT SYSTEMS reported their earning results for the first quarter of FY2024. Total revenue was USD 211.1 million, a 1.1% year-over-year increase. Although net income for the quarter was USD -4.2 million, compared to last year’s -7.1 million, the stock price still dropped on the same day.
As such, investors should take a cautious approach when considering investing in NETSCOUT SYSTEMS due to its increasing net loss and flat revenue growth. In order to make a successful investment, investors should conduct further in-depth research on the company’s financials and analyze its current and future potential.
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