F5 (FFIV) posted its second quarter report revealing mixed results: the company beat expectations on the bottom line but missed out on the top line. In its report, the company called out macro concerns, claiming that customers "remain cautious and are forecasting largely flat IT budgets for calendar 2024."

F5 CEO and President François Locoh-Donou joins Yahoo Finance to discuss the company's performance and give insight into how he views a troubling situation in enterprises at the moment.

Locoh-Donou explains that while the economic environment this year has been a bit "predictable," he still sees large enterprises remain cautious: "The bigger trend, though, is that we're seeing enterprises are in a pretty significant crisis because delivering applications has become extraordinarily complex. Enterprises have applications that are distributed across multiple infrastructure environments, multiple clouds and on premises, all connected by an exploding number of APIs. And delivering and securing these applications has become extraordinarily complex. We call it on our earnings call "the ball of fire." We think the ball of fire is a significant problem for enterprises today. "

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This post was written by Nicholas Jacobino