Palo Alto: Fiscal 1Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Thursday reported a loss of $38.3 million in its fiscal first quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 41 cents. Earnings, adjusted for one-time gains and costs, were $1.17 per share.
The results beat Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The security software maker posted revenue of $656 million in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $631.7 million.
For the current quarter ending in February, Palo Alto expects its per-share earnings to range from $1.20 to $1.22. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.19.
The company said it expects revenue in the range of $675 million to $685 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $666.5 million.
Palo Alto shares have climbed 22 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $176.26, a climb of 22 percent in the last 12 months.