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Palo Alto Networks Q3 Results Top Estimates

By Yasin Ebrahim

Investing.com -- Palo Alto Networks reported Monday fiscal fourth-quarter results that topped Wall Street demand, led by a surge in billings amid growing cybersecurity demand.

Palo Alto Networks (NASDAQ:PANW) was up more than 8% in afterhours trading following the report.

Palo Alto Networks reported earnings of $2.39 a share on revenue of $1.55 billion, beating Wall Street estimates of $2.28 and $1.54 billion, respectively.

The beat on the bottom line was driven by 44% rise in billings growth year over year in Q4.

Looking ahead, the company said it expected fiscal first-quarter earnings of between $2.03 and $2.06 per share ahead of analysts' estimates for $2.03. Revenue was forecast in a range of $1.54 billion to $1.56 billion, in line with estimates for $1.54 billion.

Looking ahead, the company raised its guidance for the year across revenue, billings and earnings per share.

For fiscal year 2022, earnings were expected in a range of $9.40 to $9.50 per share on revenue of between $6.85 billion and $6.90 billion.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.