Palo Alto Networks (NYSE:PANW) stock was soaring late in the day as the company reported its latest quarterly earnings results, which saw the company post a profit and revenue beat to close out its fiscal year.
For its fourth quarter of its fiscal 2018, the Santa Clara, Calif.-based network and enterprise security company said that it posted net losses of $2.3 million, coming in at 2 cents per share. On an adjusted basis when considering stock-based compensation and other items, the company’s earnings for the period reached $1.28 per share.
The figure was stronger than what Palo Alto Networks amassed during its fourth quarter of fiscal 2017, when it raked in adjusted earnings of 92 cents per share. Analysts were calling for the company to bring in adjusted earnings on $1.17 per share, according to data compiled by FactSet.
The company added that its revenue for the period came in ahead of what Wall Street was calling for as it amassed $658.1 million in sales, topping the $634 million in revenue that analysts were projecting, according to data compiled by FactSet. The figure was also better than Palo Alto Networks’ sales from the year-ago quarter, which came in at $509.1 million.
The company added that it sees its fiscal 2019, first-quarter earnings and revenue to be stronger than the Wall Street guidance.
PANW stock was down about 0.8% during regular trading hours in anticipation of the company’s quarterly earnings results. However, shares were soaring more than 5.5% after the bell on Thursday as it ended its fourth quarter and fiscal 2018 with a strong financial showing.
