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Palo Alto Networks (PANW) Tops Q2 EPS by 2c; Issues Solid Outlook

March 2, 2015 4:06 PM EST

Palo Alto Networks (NYSE: PANW) reported Q2 EPS of $0.19, $0.02 better than the analyst estimate of $0.17. Revenue for the quarter came in at $217.7 million versus the consensus estimate of $204 million.

Palo Alto Networks sees Q3 2015 EPS of $0.19-$0.20, versus the consensus of $0.19. Palo Alto Networks sees Q3 2015 revenue of $219-223 million, versus the consensus of $214.2 million.

"We delivered very strong second quarter results across all metrics, driven by continued high customer demand for our next-generation enterprise security platform that not only detects malicious activity, but also provides integrated and automated prevention capabilities. Given the increasing rate and severity of today's highly sophisticated cyber attacks, enterprises worldwide are turning to us to help them solve their most complex security challenges," said Mark McLaughlin, president and chief executive officer of Palo Alto Networks. "Our highly differentiated approach to enterprise security has resulted in growth that outpaces the security market as we continue to capture significant market share."

"New customer additions and expansion in existing customers resulted in record billings, revenue and deferred revenue in the second quarter," said Steffan Tomlinson, chief financial officer of Palo Alto Networks. "With approximately 47 percent of total revenue coming from recurring services, our hybrid SaaS-revenue model and ramping economies of scale continue to drive leverage in the business, resulting in sequential and year-over-year expansion in non-GAAP gross margin, non-GAAP operating margin and cash flow from operations."

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



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