Palo Alto Networks (NYSE: PANW) reported Q4 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $178.2 million versus the consensus estimate of $161.25 million.

Palo Alto Networks sees Q1 2014 EPS of $0.12, versus the consensus of $0.12. Palo Alto Networks sees Q1 2014 revenue of $178-182 million, versus the consensus of $173.7 million.

"We delivered a record finish to fiscal year 2014 with fourth quarter revenue growth driven by continued rapid adoption of our unique enterprise security platform," said Mark McLaughlin, president and chief executive officer of Palo Alto networks. "Our platform is built from the ground up to solve the most complex security issues and provides tightly integrated and automated detection and prevention capabilities at enterprise-class performance levels. Our results demonstrate that enterprises around the world are turning to Palo Alto Networks as their strategic partner in the cyber security battle."

"We are pleased with our results for the fourth quarter and fiscal year 2014. In the fourth quarter, our land, expand, and retain strategy, combined with our hybrid SaaS revenue model, drove strong sales performance across product, subscription services, and support and maintenance. Our growth continues to substantially outpace that of our competitors and our addressable market - valued today at approximately $16 billion," said Steffan Tomlinson, chief financial officer of Palo Alto Networks. "Increasing adoption of our subscription services in the quarter contributed to non-GAAP gross margin expansion, both sequentially and year-over-year, as well as adjusted free cash flow of $44.1 million, an increase of 23 percent year over year."

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