Palo Alto Networks First Quarter 2023 Earnings: EPS Beats Expectations
Palo Alto Networks (NASDAQ:PANW) First Quarter 2023 Results
Key Financial Results
Revenue: US$1.56b (up 25% from 1Q 2022).
Net income: US$20.0m (up from US$103.6m loss in 1Q 2022).
Profit margin: 1.3% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue.
EPS: US$0.067 (up from US$0.35 loss in 1Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Palo Alto Networks EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's shares are up 1.3% from a week ago.
Before you take the next step you should know about the 2 warning signs for Palo Alto Networks that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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