F5 Inc Q4 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : I guess, Francois, just related to your fiscal '25 outlook for mid-single digit, I'm just curious if you've changed your view about what the long-term trajectory in systems demand looks like, particularly as you mentioned, you've seen orders pick up a bit. And maybe you can also talk about -- when you talked about AI demand, do you expect -- how do you expect it to play out between systems related to sort of software within your portfolio? And I have a quick follow-up.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Got it. Before I follow-up, Francois, you mentioned the green shoots you're seeing in terms of enterprise spending and the recovery there. I think one of the pushbacks we've seen from investors on that front has largely been the expectation that there might be a pickup here in the back end of the year just from a budget flush perspective from the enterprises and you might sort of see you pull back again as we enter into next year and more sort of budget cuts. Any insight that you're already getting from your customers about how budgets look for next year or in relation to whether this sort of pickup has anything to do with the more temporary flush of budgets before the year-end?