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Palo Alto Networks pops 12% on earnings beat, rosy guidance
Revenue rose 31% as CyberArk and Chronosphere acquisitions helped offset a net loss and support stronger fourth-quarter and full-year guidance.
- Palo Alto Networks beat Wall Street's fiscal third-quarter estimates with adjusted earnings of 85 cents per share versus 80 cents expected, sending shares up 10% as revenue reached $3.00 billion.
- Following disappointing guidance Earlier in the year that fell short of analyst estimates, Palo Alto's strong quarterly performance marks a recovery from investor uncertainty surrounding fiscal projections.
- Despite strong quarterly Earnings growth of 31% year-over-year, Palo Alto Networks reported a $177 million net loss, or 22 cents per share, down from $262 million net income a year ago.
- Palo Alto issued stronger-than-expected guidance for the fourth quarter, forecasting revenue between $3.35 billion and $3.36 billion while lifting Full-year projections to $11.42–$11.43 billion.
- CEO Nikesh Arora said, "The latest advancements at the AI frontier have increased the level of urgency around cybersecurity," fueling a surge in Shares of more than 60% this year and over 80% this quarter.
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Palo Alto Networks Q3 Earnings Call Highlights
Palo Alto Networks (NASDAQ:PANW) reported what executives described as a record fiscal third quarter, with results exceeding guidance across key metrics as the company cited stronger organic bookings, momentum from its platformization strategy and rising demand tied to artificial intelligence securi
Palo Alto raises annual forecasts on strong AI cybersecurity demand, shares surge
June 2 : Palo Alto Networks raised its annual revenue and profit forecast on Tuesday, as enterprises increased spending on cloud, identity and AI-driven cybersecurity products amid a rising threat landscape, sending shares up 7.4 per cent in extended trading.Here are some details on the results:
·Singapore, Singapore
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right2Center8Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 23%
C 62%
15%
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