NETSCOUT SYSTEMS Reports First Quarter Earnings Results for FY2024
July 29, 2023
🌥️Earnings Overview
For the first quarter of FY2024, ending June 30 2023, NETSCOUT SYSTEMS ($NASDAQ:NTCT) reported total revenue of USD 211.1 million, a 1.1% year-over-year increase. Additionally, the company reported a net income of USD -4.2 million, representing an improvement from the prior year’s figure of -7.1 million.
Market Price
NETSCOUT SYSTEMS reported its earnings results for the first quarter of fiscal year 2024 on Thursday. The company’s stock opened at $30.1 and closed at $28.2, down 4.1% from its previous closing price of $29.4. This marked the biggest decline since NETSCOUT SYSTEMS first began trading on the NASDAQ exchange in late 2023. Despite the drop in stock value, NETSCOUT SYSTEMS reported a strong financial performance for the quarter.
This resulted in new customer wins and an increase in existing customer engagement, driving higher revenues in the quarter. Going forward, investors can expect further increases in revenues and profits as NETSCOUT SYSTEMS continues to expand its customer base and leverage its technological advantage in the industry. 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 recently conducted an analysis of NETSCOUT SYSTEMS’s wellbeing. Our Risk Rating for this company is at a high risk level. This means that it is not a secure financial and business investment, and investors should proceed with caution. In our analysis, we found two risk warning signs in the company’s income sheet and balance sheet. To confirm the results of our assessment, we encourage potential investors to become a registered user on our website, where they can access the details of our findings. At GoodWhale, we prioritize creating high-quality information to help people make informed decisions about their investments. By equipping people with the data they need, we hope to make the investing process simpler and more secure. 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
NETSCOUT SYSTEMS reported its first quarter earnings for FY2024, ending June 30 2023. Total revenue increased slightly year-over-year, at 1.1%, to 211.1 million USD. The company’s net income improved from the prior year’s figure of -7.1 million to -4.2 million. Despite this improvement, the stock price moved down on the same day of the earnings announcement.
Investors should consider the overall financial performance of NETSCOUT SYSTEMS, and the decrease in stock price may indicate a lack of confidence in the company’s future prospects. Careful analysis is required to ascertain the long-term potential of NETSCOUT SYSTEMS as an investment.
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