Palo Alto Networks Inc (PANW) stock is up following the release of its earnings report for the first quarter of fiscal 2015.

Palo Alto Networks reported revenue of $192.3 million for fiscal Q1 2015. This is a 50% increase compared to its revenue reported the same time last year. The company also reported non-GAAP earnings of 15 cents per diluted share. This beat the company’s expectations that were set in September, reports The Motley Fool.

“Once again robust new customer acquisition and expansion within our existing customer base drove record billings, revenue and deferred revenue,” said Steffan Tomlinson, CFO of Palo Alto Networks, said in a statement.

Palo Alto Networks guidance for fiscal Q2 of 2015 includes revenue of $200 million to $204 million. This is above the $198.1 million that Wall Street expects. It also plans to see earnings per share of 16 cents to 17 cents. Wall Street is expecting earnings per share of 16 cents for the company, The Motley Fool notes.

PANW shares were up 1% as of Tuesday morning and 101% year-to-date.

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