The network security specialist earned 3 cents a share in the fourth quarter on $75.6 million in sales, besting Wall Street expectations. Revenue grew 88% year over year, with fiscal 2012 revenue growing 115% to $255.1 million. Analysts polled by Thomson Reuters were expecting Palo Alto to report break-even earnings and $71.33 million in revenue.
Shares of Palo Alto Networks went public at $42 a share in July, and started trading at $55.15. Investors slammed shares after not meeting the most bullish of Wall Street forecasts, though the stock did recover some losses after the company provided bullish first-quarter views.
The company said it expects to have non-GAAP earnings of 3 cents a share in the first quarter with sales between $80 million and $84 million. Analysts expect non-GAAP earnings of 3 cents a share and $80.8 million in revenue.
Google (GOOG) shares were up 0.39% in premarket trading to $703.50 as the Internet giant received approval from Apple (AAPL) for another YouTube app in Apple's App Store. Last month, Apple announced that the YouTube app would no longer be standard on its mobile operating system iOS. Google said then it was working on a new app which it hoped to have approval for shortly. The new app allows users to find videos and channels easier using voice search and query autocomplete. Viewers can also watch all of YouTube's video catalog, including official music videos, something they were not able to do before.
Shares of Apple were up 0.48% in premarket action to $665.89 as the company gets set to launch its latest iPhone at an event in San Francisco Wednesday.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV