Palo Alto Networks Inc (NYSE:PANW) handily beat earnings expectations after the bell on Thursday, and the market is reacting accordingly. Shares are up in the premarket, as the firm’s forecast for the current quarter has brought smiles to the faces of investors.
Investor’s Business Daily has the details on Palo Alto’s quarter.
Palo Alto Networks (PANW) Thursday reported fiscal fourth-quarter profit and revenue that blew past Wall Street views, sending shares in the cybersecurity firm up in after-hours trades.
Palo Alto said adjusted earnings were $1.28 a share, up 39% from a year ago, with revenue rising 29% to $658.1 million. Analysts expected Palo Alto Networks to report earnings of $1.17 a share on sales of $633 million for the period ended July 31.
Those results were also well ahead of the $509 million in sales and 92 cent earnings per share which the firm delivered in the same period last year. Looking ahead to the current quarter, Palo Alto expects to report revenue of $630 million and profits of $1.05 per share.
Analysts had forecast $619 million and $1.04 per share for the October quarter.
Palo Alto Networks Inc shares rose $14.43 (+6.55%) in premarket trading Friday. Year-to-date, Palo Alto Networks, Inc. (PANW - Get Rating) has gained 52.04%, versus a 8.90% rise in the benchmark S&P 500 index during the same period.