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Palo Alto: Fiscal 3Q Earnings Snapshot

May 29, 2019

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.

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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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