Palo Alto: Fiscal 2Q Earnings Snapshot

February 22, 2021 GMT

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Monday reported a loss of $142.3 million in its fiscal second quarter.

The Santa Clara, California-based company said it had a loss of $1.48 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.55 per share.

The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The security software maker posted revenue of $1.02 billion in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $985.7 million.


For the current quarter ending in May, Palo Alto expects its per-share earnings to range from $1.27 to $1.29. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.25.

The company said it expects revenue in the range of $1.05 billion to $1.06 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.04 billion.

Palo Alto expects full-year earnings in the range of $5.80 to $5.90 per share, with revenue ranging from $4.15 billion to $4.2 billion.

Palo Alto shares have climbed 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $384.35, a rise of 54% 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