8 months ago
102 Arora Nikesh, Palo Alto Networks CEO & Chairman astatine the WEF successful Davos, Switzerland connected May 23rd, 2022.
Adam Galica | CNBC
Palo Alto Networks shares jumped arsenic overmuch arsenic 9% successful extended trading connected Friday aft the information bundle vendor reported net that exceeded analysts' estimates.
The banal had dropped 16% successful August starring up the study arsenic investors disquieted that the company's determination to denote results precocious connected a Friday suggested the merchandise whitethorn see troublesome numbers.
Here's however the institution did for the 4th ended July 31:
Earnings: $1.44 per share, adjusted, vs. $1.28 per share, adjusted, arsenic expected by Refinitiv.Revenue: $1.95 billion, vs. $1.96 cardinal arsenic expected by Refinitiv.Revenue successful its fiscal 4th fourth accrued 26% from $1.6 cardinal a twelvemonth earlier, Palo Alto said. Net income climbed to $227.7 million, oregon 74 cents a share, from $3.3 million, oregon a penny a share, a twelvemonth ago.
For the archetypal quarter, Palo Alto expects gross of $1.82 billion to $1.85 billion, and income for the twelvemonth are expected to beryllium $8.15 cardinal to $8.2 billion. That's beneath expert expectations of $1.93 cardinal for the fiscal archetypal 4th and $8.38 cardinal for the afloat year, according to Refinitiv.
Palo Alto announced its earnings day connected Aug. 2. West seashore tech companies typically study net nary aboriginal successful the week than Thursday afternoon, giving investors an accidental to process the numbers and commercialized the banal based connected those results earlier the extremity of the week. Historically, companies with atrocious quality often hide the numbers aft the adjacent of trading connected Friday.
