Israel's Radware Q2 adjusted EPS beats estimates on cloud revenue growth
RDWR•Key financial metrics
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Beat* | $82.28 mln | $81.49 mln (2 Analysts) |
| Q2 Adjusted EPS from continuing operations | Beat | $0.30 | $0.28 (3 Analysts) |
| Q2 Net Income | $1.71 mln | ||
| Q2 Gross Profit | $66.46 mln | ||
| Q2 Operating Income | $2.47 mln | ||
| Q2 Pretax Profit | $6.01 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Growth drivers and outlook
- Cloud revenue growth — The company said Q2 results were driven by 22% year-over-year growth in cloud annual recurring revenue.
- Platform expansion — Radware cited continued expansion and innovation in cloud, application security, API Security, and DDoS protection as supporting growth, according to CEO Roy Zisapel.
- Americas growth — Revenue in the Americas rose 24% year over year, offsetting a decline in EMEA.
- Radware did not provide specific guidance for the upcoming quarter or full year.
