Palo Alto: Fiscal 2Q Earnings Snapshot
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.
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.