Palo Alto Networks (PANW) - Get Reportposted adjusted earnings of $1.47 a share, 5 cents better than analysts' estimates, and said it can achieve a compounded annual growth rate of 20% by 2022 for both billings and revenue from its cloud-based security products.
Revenue was $805.8 million, up from $658.5 million a year earlier and ahead of forecasts of $803 million. Billings in Palo Alto's fourth quarter rose rose 22% to $1.1 billion. Analysts had expected billings of $995 million.
For Jim Cramer the biggest takeaway is, "there was a strategy all along and the strategy was to be king of both the firewall and the cloud. Right now, ZScaler (ZS) - Get Report and CrowdStrike (CRWD) - Get Report are the cloud. What Nikesh is saying, you can't just have the cloud and no enterprise. You have to have them both. He's got that strategy. I know that Cisco does too. That strategy is a winner."
Watch the video above to see what else Jim had to say about Palo Alto's Earnings.
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