Gain of Palo Alto Networks (PANW) Q3 2022

Nikesh Arora of the United States on the first hole during the third round of the Alfred Dunhill Links Championship at the Old Course on 02 October 2021 in St Andrews, Scotland.

Davide Canonico | Getty Images

Palo Alto networks Shares were up 12% during extended trading Thursday after the network security hardware maker announced its third quarter fiscal results that were stronger than analysts expected.

Here’s how the company did it:

  • I earn: $ 1.79 per share, adjusted, versus $ 1.68 per share as analysts predicted, according to Refinitiv.
  • Income: $ 1.39 billion, versus $ 1.36 billion as predicted by analysts, according to Refinitiv.

Palo Alto Networks said revenue grew 29% year-over-year in the quarter, which ended April 30, according to a statements. Revenue increased by 30%. the previous quarter.

“We saw strong top-line growth in the third quarter, which is a testament to our teams’ continued execution in capitalizing on strong trends in cybersecurity demand,” Palo Alto Networks CEO Nikesh Arora said in the statement.

In the Palo Alto Reti district announced a next-generation firewall tool available exclusively through by Amazon public cloud. Society too announced a tool to help companies detect vulnerabilities in software supply chains following problems resulting from malicious updates to SolarWinds Orion software.

Executives raised their guidelines for the full fiscal year. They now expect adjusted earnings of $ 7.43 to $ 7.46 per share on $ 5.481 billion to $ 5.501 billion in revenue. Analysts interviewed by Refinitiv had sought $ 7.29 in adjusted earnings per share on $ 5.46 billion in revenue.

Prior to the close of trading, the stock fell nearly 21% since the start of 2022, while the S&P 500 index fell roughly 18% over the same period.

Executives will hold a conference call with analysts to discuss the results starting at 4:30 PM ET.

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