AP NEWS

Palo Alto: Fiscal 1Q Earnings Snapshot

November 29, 2018

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.

_____

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

AP RADIO
Update hourly