Palo Alto Networks reports positive after fiscal q4 results top estimates

Investing.com --  Palo Alto Networks reported upbeat guidance Monday after reporting fiscal fourth-quarter results that topped Wall Street on increased deal making underpinned by growing cybersecurity demand.

Palo Alto Networks Inc (NASDAQ:PANW ) was up more than 4% in afterhours trading following the report.

Palo Alto Networks reported earnings  of $1.51 a share on revenue of $2.2 billion, beating Wall Street estimates of $1.41 and $2.16 billion, respectively.

Next-Generation Security annual recurring revenue rose 43% year over year to $4.2B amid a jump in deal making activity. 

Looking ahead, the company said it expected fiscal first-quarter adjusted earnings of between $1.47 and $1.49 per share ahead of analysts' estimates for $1.42. Revenue was forecast in a range of $2.10B to $2.13B, in line with estimates for $2.10 billion.

For fiscal year 2025, adjusted earnings were expected in a range of $6.18 to $6.31 per share on revenue of between $9.10B and $9.15B.

"We finished off the year with strong execution on our platformization strategy in Q4," said Nikesh Arora, chairman and CEO of Palo Alto Networks," the company said in its Q4 earnings report. 

Source: Investing.com