Palo Alto Networks (PANW) Tops Q2 EPS by 29c; Guides In-Line
Palo Alto Networks (NYSE: PANW) reported Q2 EPS of $1.51, $0.29 better than the analyst estimate of $1.22. Revenue for the quarter came in at $711.2 million versus the consensus estimate of $682.1 million.
"We remain focused on delivering to our customers the best security in the market," said Nikesh Arora, chief executive officer of Palo Alto Networks. \"Our recently introduced products and services, including Cortex XDR, Traps 6.0, PAN-OS 9.0, the DNS Security Service subscription, and our fastest ever Next-Generation Firewall, coupled with the proposed acquisition of Demisto, further enhance and expand our capabilities, making security simpler and more effective through the use of artificial intelligence, analytics, automation and orchestration."
GUIDANCE:
Total revenue in the range of $697 to $707 million, representing year-over-year growth between 23 percent and 25 percent on an ASC 606 basis. (*** consensus is $696.95 million)
Diluted non-GAAP net income per share in the range of $1.23 to $1.25, which includes expenses related to the proposed Demisto acquisition, using 99 to 101 million shares on an ASC 606 basis. (*** consensus is $1.24)
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