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Palo Alto: Fiscal 4Q Earnings Snapshot

September 6, 2018

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Thursday reported a loss of $2.3 million in its fiscal fourth quarter.

The Santa Clara, California-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, were $1.28 per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The security software maker posted revenue of $658.1 million in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $633.2 million.

For the year, the company reported that its loss narrowed to $147.9 million, or $1.61 per share. Revenue was reported as $2.27 billion.

For the current quarter ending in November, Palo Alto expects its per-share earnings to range from $1.04 to $1.06. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.07.

The company said it expects revenue in the range of $625 million to $635 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $616.5 million.

Palo Alto shares have increased 52 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $220.51, a climb of 52 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PANW at https://www.zacks.com/ap/PANW

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