Palo Alto Networks Reports Mixed Financial Results

11/23/2024 6:41:49 AM

(MENAFN- Baystreet) Cybersecurity firm Palo Alto Networks (PANW) has reported mixed financial results for this year's third quarter.
The Santa Clara, California-based company announced earnings per share (EPS) of $1.56 U.S., which beat the consensus forecast of $1.48 U.S. on Wall Street.
However, revenue of $2.10 billion U.S. fell short of analyst estimates that called for $2.12 billion U.S. in sales.
The company's stock is down 5% after the print for what was its fiscal first quarter.
Still, Palo Alto Networks raised its forward guidance, saying it now expects revenue of $2.22 billion U.S. to $2.25 billion U.S. for the current quarter.
The new guidance is inline with analyst estimates of $2.23 billion U.S. The company also forecast EPS of $1.54 U.S. to $1.56 U.S., compared to forecasts of $1.55 U.S.
Palo Alto Networks also lifted its full-year guidance, saying it anticipates EPS of $6.26 U.S. to $6.39 U.S. on revenue of $9.12 billion U.S. to $9.17 billion U.S.
That compares to Wall Street estimates that called for $6.28 U.S. EPS and $9.13 billion U.S. of revenue.
Along with its latest financial results, Palo Alto Networks also announced a two-for-one stock split that takes effect on Dec. 16 of this year.
The company's stock currently trades at $392.89 U.S., having increased 33% on the year.

MENAFN23112024000212011056ID1108917905

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.