PANW pops up as stock earnings, revenue top estimate

Palo Alto Networks (PANW) on Thursday reported fiscal third-quarter earnings and revenue, which is at the top of estimates. PANW stocks have popped as its outlook for the July quarter has exceeded expectations, despite supply chain constraints.




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PANW stock rose 9.8% to close at 479 today on increased trading in the stock market.

Palo Alto said the earnings per share rose 30% to 29 1.29 on a consistent basis. Including acquisitions, revenue rose 29% to 1.4 billion, the agency said. Analysts had expected earnings of 68 1.68 per share on sales of $ 1.36 billion.

Further, billing came in at $ 1.8 billion, up 40% from a year earlier, compared to the 1.6 billion estimate. The cyber security company released its April-quarter earnings after the market closed.

“Palo Alto reported results were better than expected and highlighted by a 40% billing increase versus a 25% consensus,” RBC Capital analyst Matthew Hedberg said in a note to clients, adding that the next generation annual recurring revenue of 65 % Increased to 1.6 billion.

PANW Stock: Guidance Tops Estimation

For the current quarter ending in July, Palo Alto said it expects earnings per share in the পরিস 1.54 billion revenue range between $ 2.26 and $ 2.29.

Analysts estimated earnings of $ 2.22 per share over 1.53 billion. Also, Palo Alto forecasts $ 2.33 billion in billing, compared to analysts’ estimates of $ 2.23 billion.

Meanwhile, the company has spent $ 3.4 billion on 10 acquisitions in the last three years. With the roots of the “firewall” network security market, Palo Alto aims to create a comprehensive cloud-based security platform.

According to the IBD stock check-up, heading into the Palo Alto Earnings report, the cyber security stock had a relative strength rating of 86 out of the best-possible 99s. In 2022, PANW stocks fell 21%.

Follow Reinhard Krauss on Twitter reinhardtk_tech For updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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