Palo Alto: Fiscal 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Wednesday reported a loss of $20.2 million in its fiscal third quarter.
The Santa Clara, California-based company said it had a loss of 21 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.31 per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The security software maker posted revenue of $726.6 million in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $703.9 million.
For the current quarter ending in July, Palo Alto expects its per-share earnings to range from $1.41 to $1.42. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.53.
The company said it expects revenue in the range of $795 million to $805 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $796 million.
Palo Alto shares have climbed 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $215.34, a rise of nearly 4% in the last 12 months.