Palo Alto Networks (PANW) Reported Q1 Beat

Palo Alto Networks (NASDAQ: PANW) shares traded fractionally higher after the cybersecurity firm reported its Q1 results, with EPS coming in at $1.64, beating the consensus estimate of $1.57. Quarterly revenue grew 32% year-over-year to $1.2 billion, in line with the consensus estimate.

According to Nikesh Arora, Chairman and CEO of Palo Alto Networks, the company continues to see strong customer demand and has continued to release key innovations which give them confidence in the durable growth that was anticipated at the company’s September Analyst Day.

The company expects Q2 EPS of $1.63-$1.66 (vs. Street’s $1.64) and revenue to range from $1.265 to $1.285 billion (vs. Street’s $1.27 billion). For the full 2022-year, the company expects EPS of $7.15-$7.25 (vs. Street’s $7.24) and revenue of $5.35-5.4 billion (vs. Street’s $5.31 billion).

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