Palo Alto Networks (PANW) Beats Q3 Earnings & Revenue Estimates, Sales Up 31%
Palo Alto Networks PANW released its third-quarter fiscal 2018 financial results before the market opened on Monday, posting adjusted earnings of $0.99 per share and revenues of $567.1 million.
Palo Alto Networks is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of PANW are up 50% over the last year and have popped 8% during the last 4 weeks. The cybersecurity player’s stock is currently down 1.69% to $205.65 per share through late afternoon trading.
PANW:
Beat earnings estimates. The company posted adjusted earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.96 per share.
Beat revenue estimates. The company saw revenue figures of $567.1 million, beating our consensus estimate of $545.79 million.
Palo Alto Networks saw its quarterly revenues climb by roughly 31% from $431.8 million in the year-ago period. Meanwhile, the cybersecurity company’s earnings surged from $0.61 per share.
Looking ahead, Palo Alto Networks said it expects revenue in the range of $625 million to $635 million in Q4, which comes in above our Zacks Consensus Estimates of $619.1 million. The company also noted that it expects full-year earnings in the range of $3.86 to $3.89 per share, which falls in line with our $3.89 estimate.
"We delivered strong fiscal third quarter results with record revenue, deferred revenue and billings, while continuing to capture market share at rates that far outpace the competition," CEO Mark McLaughlin said in a statement. "Our Security Operating Platform utilizes software, the cloud and analytics to deliver increasingly better prevention through automation and ecosystem leverage, while dramatically reducing the complexity of the consumption model for customers."
Here’s a graph that looks at PANW’s Price, Consensus and EPS Surprise history:
Palo Alto Networks, Inc. Price, Consensus and EPS Surprise
Palo Alto Networks, Inc. Price, Consensus and EPS Surprise | Palo Alto Networks, Inc. Quote
Check back later for our full analysis on PANW’s earnings report!
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