Palo Alto Networks (PANW) Tops Q2 EPS by 1c, Sales Beat; Issues Light Q3 EPS Outlook, Strong Sales

(Updated - February 25, 2016 3:31 PM EST)

Palo Alto Networks (NYSE: PANW) reported Q2 EPS of $0.40, $0.01 better than the analyst estimate of $0.39. Revenue for the quarter came in at $334.7 million versus the consensus estimate of $318.32 million. Earnings were leaked out over 30 minutes before they were supposed to be released.

Fiscal second quarter billings grow 62 percent year-over-year to $459.0 million.

“We reported strong fiscal second quarter results across all metrics, including record revenue of $334.7 million, which increased 54 percent year-over-year. We are proud to now be serving more than 30,000 customers globally who are rapidly adopting the prevention capabilities of our Next-Generation Platform to achieve superior security, simplify their networks and greatly improve total cost of ownership,” said Mark McLaughlin, president and chief executive officer of Palo Alto Networks. “Security is a critical aspect of the digital age and a strategic priority embedded in all technology decisions for enterprises and organizations around the world.”

“During the quarter we saw broad adoption of all aspects of our Next-Generation Security Platform with particular strength in our subscription services,” said Steffan Tomlinson, chief financial officer of Palo Alto Networks. “Our results demonstrate our commitment to balancing high growth and profitability as well as the increasing strength in free cash flow from our hybrid-SaaS model.”

GUIDANCE:

Palo Alto Networks sees Q3 2016 EPS of $0.41-$0.42, versus the consensus of $0.45. Palo Alto Networks sees Q3 2016 revenue of $335 - $339 million, versus the consensus of $334.6 million.

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

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