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Palo Alto Networks Tops Estimates as Revenue Surges

Cybersecurity company sees revenue jump 28% from year-earlier quarter.
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Palo Alto Networks  (PANW) - Get Palo Alto Networks, Inc. Report reported better-than-expected results for its fiscal fourth quarter helped by a 28% jump in revenue. 

In the fiscal 2021 fourth quarter ended July 31, the company posted adjusted earnings per share of $1.43 on revenue of $1.22 billion. 

In the same period a year ago, the company reported earnings of $1.48 per share on revenue of $950.4 million.

Analysts surveyed by FactSet had been forecasting adjusted earnings of $1.43 a share on revenue of $1.17 billion.

The stock recently traded at $408.02, up 10%, in after-hours action. ItThe stock rose 1.4% in regular trading Monday. 

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“We saw notable strength in large customer transactions with strategic commitments across our Strata, Prisma and Cortex platforms," said Chief Executive Nikesh Arora, in a statement.

For the fiscal first quarter 2022, the company expects total revenue in a range of $1.19 billion to $1.21 billion, representing year-over-year growth of between 26% and 28%. It anticipates adjusted net income per share in a range of $1.55 to $1.58. Analysts are forecasting revenue of $1.15 billion and earnings of $1.60 a share.

For the fiscal year 2022, the company PANW expects total revenue in the range of $5.275 billion to $5.325 billion, representing year-over-year growth between 24% and 25%.

And it sees adjusted net income per share in the range of $7.15 to $7.25. It estimates an adjusted free cash flow margin of more than 30%. 

Palo Alto Networks has scheduled an analyst day on Sept. 13 to discuss its long-term goals. 

TheStreet's Kevin Curran recently discussed why investors should look to include cybersecurity stocks in their investment portfolios. Find out more here