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Palo Alto Networks Reports Mixed Financial Results
The Santa Clara, California-based company announced earnings per share (EPS) of $1.56 U.S., which beat the consensus forecast of $1.48 U.S. on Wall Street.
However, revenue of $2.10 billion U.S. fell short of analyst estimates that called for $2.12 billion U.S. in sales.
The company’s stock is down 5% after the print for what was its fiscal first quarter.
Still, Palo Alto Networks raised its forward guidance, saying it now expects revenue of $2.22 billion U.S. to $2.25 billion U.S. for the current quarter.
The new guidance is inline with analyst estimates of $2.23 billion U.S. The company also forecast EPS of $1.54 U.S. to $1.56 U.S., compared to forecasts of $1.55 U.S.
Palo Alto Networks also lifted its full-year guidance, saying it anticipates EPS of $6.26 U.S. to $6.39 U.S. on revenue of $9.12 billion U.S. to $9.17 billion U.S.
That compares to Wall Street estimates that called for $6.28 U.S. EPS and $9.13 billion U.S. of revenue.
Along with its latest financial results, Palo Alto Networks also announced a two-for-one stock split that takes effect on Dec. 16 of this year.
The company’s stock currently trades at $392.89 U.S., having increased 33% on the year.
