AP NEWS

Palo Alto: Fiscal 1Q Earnings Snapshot

November 25, 2019 GMT

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Monday reported a loss of $59.6 million in its fiscal first quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 62 cents. Earnings, adjusted for one-time gains and costs, came to $1.05 per share.

The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The security software maker posted revenue of $771.9 million in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $767.4 million.

For the current quarter ending in February, Palo Alto expects its per-share earnings to range from $1.11 to $1.13. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.28.

The company said it expects revenue in the range of $838 million to $848 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $851.3 million.

Palo Alto expects full-year earnings in the range of $4.90 to $5 per share, with revenue ranging from $3.44 billion to $3.48 billion.

Palo Alto shares have increased 33% since the beginning of the year. In the final minutes of trading on Monday, shares hit $250.37, an increase of 50% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PANW at https://www.zacks.com/ap/PANW