Palo Alto Networks, Inc. (PANW) reported its first-quarter earnings, showcasing an impressive increase from the same period last year, and surpassing Wall Street's expectations.
The company posted a net income of $350.7 million, or $0.99 per share, up from $194.2 million, or $0.56 per share, in the previous first quarter.
Notably, excluding certain items, Palo Alto Networks, Inc. achieved adjusted earnings of $544.9 million, or $1.56 per share, for this period.
Analysts, as surveyed by Thomson Reuters, had on average anticipated earnings of $1.48 per share. These estimates typically do not include special items.
The company's quarterly revenue increased by 13.8%, reaching $2.138 billion compared to $1.878 billion in the prior year.
Here’s a snapshot of Palo Alto Networks, Inc.'s earnings (GAAP):
- Earnings (Q1): $350.7 million vs. $194.2 million last year.
- Earnings per Share (Q1): $0.99 vs. $0.56 last year.
- Revenue (Q1): $2.138 billion vs. $1.878 billion last year.
**Guidance:**
- Projected EPS for next quarter: $1.54 - $1.56
- Expected revenue for next quarter: $2.22 - $2.25 billion
- Full-year EPS guidance: $6.26 - $6.39
- Full-year revenue projection: $9.12 - $9.17 billion
