Palo Alto Networks (PANW) Tops Q1 EPS by 3c

Palo Alto Networks (NYSE: PANW) reported Q1 EPS of $0.15, $0.03 better than the analyst estimate of $0.12. Revenue for the quarter came in at $192.3 million versus the consensus estimate of $181.7 million.

Deferred revenue grows 69 percent year-over-year to a record $470.7 million.

Palo Alto Networks sees Q2 total revenue in the range of $200 to $204 million, representing year-over-year growth between 42 percent and 45 percent, versus the consensus of $198 million. Diluted non-GAAP earnings per share in the range of $0.16 to $0.17 using 85 to 87 million shares, versus the consensus of $0.16.

"We had a strong start to fiscal year 2015, outperforming expectations across all of our reported metrics. As the leading provider of the next-generation enterprise security platform, we delivered 52 percent billings growth and 50 percent revenue growth on a year-over-year basis," said Mark McLaughlin, president and chief executive officer of Palo Alto Networks. "In today's increasingly complex threat environment, enterprise customers recognize that a true, integrated and automated platform delivering prevention capabilities offers superior security with a superior total cost of ownership advantage. Our results demonstrate the differentiation and sustainability of that unique platform, the scalability of our go-to-market model and our ongoing growth potential."

"We are very pleased with our first quarter performance. Once again robust new customer acquisition and expansion within our existing customer base drove record billings, revenue and deferred revenue," said Steffan Tomlinson, chief financial officer of Palo Alto Networks. "We delivered this top-line performance while continuing to grow our non-GAAP operating margin, both sequentially and year-over-year, and generating $74.9 million in cash flow from operations and $69.0 million in free cash flow."

For earnings history and earnings-related data on Palo Alto Networks (PANW) click here.

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