Palo Alto Networks Posts Higher 4Q Revenue, Earnings

Palo Alto Networks posted higher earnings and revenue for its fiscal fourth quarter as companies continued to spend on cybersecurity, despite a broader softening in spending on enterprise technology.

The Santa Clara, Calif.-based cybersecurity provider posted a profit of $227.7 million, or 64 cents a share, for the three-months ended July 31, compared with earnings of $3.3 million, or 1 cent a share, in the same period last year. Adjusted earnings came to $1.44 a share, topping the $1.29 a share that analysts surveyed by FactSet expected.

Revenue rose about 26% to $1.95 billion, below the $1.96 billion expected by analysts, according to FactSet. Billings grew 18% to $3.16 billion

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Estee Lauder, Bloomin' Brands, Palo Alto Networks and moreShares of some Chinese companies, ranging from e-commerce giants JD.com and Alibaba to electric vehicle manufacturer Nio, declined in premarket trading Friday.
Source: nbcsandiego - 🏆 524. / 51 Read more »

Palo Alto Networks stock rallies as earnings, outlook top Street estimatesPalo Alto Networks topped expectations with its latest earnings, as well as with its forecasts for profit and billings, in an unusually scheduled report.
Source: MarketWatch - 🏆 3. / 97 Read more »

Palo Alto Networks Stock Jumps as Earnings Top EstimatesThe company's profit guidance for the quarter and fiscal 2024 topped analyst forecasts. The revenue outlook came in light.
Source: MarketWatch - 🏆 3. / 97 Read more »