The shares of Palo Alto Networks Inc. they met in the extended session Monday after the cybersecurity company’s quarterly results and outlook exceeded Wall Street expectations.
Palo Alto Networks PANW,
shares rose more than 7% after hours, after a 1.4% increase in the regular session to close at $ 372.57.
Palo Alto Networks reported fourth-quarter tax loss of $ 119.3 million, or $ 1.23 per share, compared to a loss of $ 58.9 million, or 61 cents per share, in the first quarter. the previous year. Adjusted earnings, which exclude share-based and other item-based compensation charges, were $ 1.60 per share, compared to $ 1.48 in the prior year period.
Revenue rose to $ 1.222 billion from $ 950.4 million in the previous quarter. Turnover, which reflects the future contracted business, rose to $ 1.878 billion, compared to $ 1.39 billion the previous year.
Analysts surveyed by FactSet forecast earnings of $ 1.43 per share on revenue of $ 1.17 billion and turnovers of $ 1.71 billion. Palo Alto Networks had forecast $ 1.42 billion to $ 1.44 billion in revenue share of $ 1.17 billion to $ 1.18 billion and revenue of $ 1.7 billion to $ 1.72 million.
“Our strong fourth quarter performance was the culmination of year-round execution of our strategy, including product innovation, platform integration, business model transformation, and investments in our organization. commercial, “Nikesh Arora, president and CEO of Palo Alto Networks, said in a statement. “In particular, we saw a remarkable strength in large transactions with clients with strategic commitments on our Strata, Prism and Cortex platforms.”
Palo Alto Networks expects first-quarter adjusted quarterly earnings of $ 1.55 to $ 1.58 per share on revenue of $ 1.19 billion to $ 1.21 billion and revenue of $ 1.29 billion to $ 1. $ 31 billion, while analysts had forecast $ 1.59 per share on revenue of $ 1.15 billion and turnovers of $ 1.25 billion. .
For the year, Palo Alto Networks expects adjusted earnings of $ 7.15 to $ 7.25 per share on revenue from $ 5,288 million to $ 5,333 million, while analysts expect $ 7.03 per share on revenue of $ 5 billion. The company also sees turnovers of $ 6.6 billion to $ 6.656 billion, while analysts forecast $ 6.18 billion.
Shares of Palo Alto Networks have risen 38% over the past twelve months. In comparison, the ETFMG Prime Cyber Security ETF HACK,
has increased by 29%, while the SP&S S&P 500 index,
and the complex Nasdaq compositional index,
they increase by 32%.