Palo Alto: Fiscal 4Q Earnings Snapshot
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.