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Palo Alto: Fiscal 4Q Earnings Snapshot

August 24, 2020 GMT

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Monday reported a loss of $58.9 million in its fiscal fourth quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 61 cents. Earnings, adjusted for one-time gains and costs, came to $1.48 per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The security software maker posted revenue of $950.4 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $922.5 million.

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For the year, the company reported that its loss widened to $267 million, or $2.76 per share. Revenue was reported as $3.41 billion.

For the current quarter ending in November, Palo Alto expects its per-share earnings to range from $1.32 to $1.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.34.

The company said it expects revenue in the range of $915 million to $925 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $915.9 million.

Palo Alto shares have risen 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $267.08, an increase of 31% 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