Business Outlook
For the fourth quarter of 2023, the company expects total revenue in the range of $1.039 billion to $1.079 billion, vs. consensus of $1.07B. Fourth quarter GAAP operating margin is expected to be approximately 31 percent and GAAP net income per diluted share is expected to be in the range of $0.85 to $0.91. Using the non-GAAP measures defined below, operating margin is expected to be approximately 42 percent and net income per diluted share is expected to be in the range of $1.30 to $1.36, vs. consensus of $1.37.
For fiscal year 2023, the company expects total revenue in the range of $4.06 billion to $4.10 billion, vs. consensus of $4.08B. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30.5 percent to 31.0 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.48 to $3.54. Using the non-GAAP measures defined below, operating margin for 2023 is expected to be in the range of 41.5 percent to 42.0 percent and net income per diluted share for 2023 is expected to be in the range of $5.07 to $5.13, vs. consensus of $5.09.
