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Palo Alto: Fiscal 2Q Earnings Snapshot

February 24, 2020 GMT

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Monday reported a loss of $73.7 million in its fiscal second quarter.

The Santa Clara, California-based company said it had a loss of 75 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.19 per share.

The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The security software maker posted revenue of $816.7 million in the period, falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $843.2 million.

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For the current quarter ending in May, Palo Alto expects its per-share earnings to range from 96 cents to 98 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.26.

The company said it expects revenue in the range of $835 million to $850 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $873.5 million.

Palo Alto expects full-year earnings in the range of $4.55 to $4.65 per share, with revenue ranging from $3.35 billion to $3.39 billion.

Palo Alto shares have increased 2.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $237.06, a rise of 3% 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