Palo Alto: Fiscal 3Q Earnings Snapshot

May 21, 2020 GMT

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Thursday reported a loss of $74.8 million in its fiscal third quarter.

The Santa Clara, California-based company said it had a loss of 77 cents per share. Earnings, adjusted for one-time gains and costs, were $1.17 per share.

The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The security software maker posted revenue of $869.4 million in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $829.2 million.


For the current quarter ending in July, Palo Alto expects its per-share earnings to range from $1.37 to $1.40. 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 fourth quarter. Analysts surveyed by Zacks had expected revenue of $915.9 million.

Palo Alto expects full-year earnings in the range of $4.78 to $4.81 per share, with revenue ranging from $3.37 billion to $3.38 billion.

Palo Alto shares have decreased roughly 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $229.50, a climb of roughly 1% in the last 12 months.


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