Palo Alto Networks (PANW) earnings Q3 2021
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Here is how the corporate did:
- Earnings: $1.38 per share, adjusted, vs. $1.28 per share as anticipated by analysts, based on Refinitiv.
- Income: $1.07 billion, vs. $1.06 billion as anticipated by analysts, based on Refinitiv.
Income grew 24% 12 months over 12 months within the quarter, which ended on April 30, in contrast with 25% development within the earlier quarter, based on an announcement.
CEO Nikesh Arora stated within the assertion that there is better consideration on cybersecurity as a result of distant working turned standard throughout the pandemic, in addition to a spate of current cybersecurity points — presumably together with assaults on Microsoft’s Trade Server software program, vulnerabilities in SolarWinds software program and the current ransomware assault in opposition to Colonial Pipeline that shut down a key gasoline pipeline.
Palo Alto Networks is not the one firm seeking to capitalize on safety anxiousness. Available in the market for prolonged detection and response software program to trace threats, the corporate has to deal with rivals using devoted salespeople, with CrowdStrike outnumbering Palo Alto Networks by eight to 1, Arora stated.
Executives have determined to keep up a single fairness construction, together with its cloud and synthetic intelligence safety phase, due to present market situations and conversations with shareholders, Arora stated. In February Arora had stated the corporate was finalizing a submitting for an fairness construction for the cloud and AI safety enterprise.
Through the quarter the corporate acquired Bridgecrew, a cloud safety firm, for $156 million.
With respect to steerage, the corporate stated it expects adjusted earnings of $1.42 to $1.44 per share in its fiscal fourth quarter, with $1.165 billion to $1.175 billion in income. Analysts polled by Refinitiv had anticipated $1.42 in adjusted earnings per share and $1.16 billion in income.
However the after-hours transfer, shares of Palo Alto Networks have been down about 4% for the reason that begin of the 12 months, in contrast with a acquire of roughly 11% for the S&P 500 index over the identical interval.
Executives will talk about the outcomes with analysts on a convention name beginning at 5 p.m. Jap time.
That is breaking information. Please test again for updates.
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