Palo Alto Networks Inventory Jumps as Earnings and Income High Steerage
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Palo Alto Networks
shares are buying and selling greater late Thursday on better-than-expected outcomes for the safety software program firm’s fiscal third quarter ended April 30, as the corporate noticed clear advantages from the spate of latest high-profile cyberattacks.
In after-hours buying and selling, Palo Alto Networks inventory (ticker: PANW) has gained 5%, to $359.79.
For the quarter, Palo Alto Networks reported income of $1.07 billion, up 24% from a yr in the past, and barely greater than the Wall Road analyst consensus forecast at $1.06 billion. Steerage had been for income of $1.05 billion to $1.06 billion.
Non-GAAP income have been $1.38 a share, above the Road consensus at $1.28 and forward of the steerage vary of $1.27 to $1.29. Beneath usually accepted accounting rules, the corporate had a lack of $145.1 million, or $1.50 a share, together with $247.2 million in prices for stock-based compensation. Billings have been $1.3 billion, up 27% and forward of the steerage vary of $1.22 billion to $1.24 billion.
“The work-from-home shift earlier within the yr and up to date cybersecurity points have elevated the give attention to safety,” Palo Alto Networks CEO
stated in a press release. “Coupled with good execution, this has pushed nice energy throughout our enterprise.”
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For the fiscal fourth quarter, the corporate is projecting income of $1.165 billion to $1.175 billion, up 23% to 24% and modestly greater than the outdated Road consensus forecast of $1.16 billion. Palo Alto Networks sees non-GAAP income for the quarter of $1.42 to $1.44 a share, the midpoint of which is a penny above the consensus forecast of $1.42.
For the complete yr, Palo Alto Networks now sees income of between $4.2 billion and $4.21 billion, up 23% to 24% and up from a earlier goal vary of $4.15 billion to $4.2 billion, with billings of $5.28 billion to $5.3 billion, up 23%, and non-GAAP income of $5.97 to $5.99 a share, up from a earlier vary of $5.80 to $5.90 a share.
Write to Eric J. Savitz at [email protected]
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