Palo Alto Networks earnings (NYSE:PANW) surged as the company reported its latest quarterly earnings results, which came in well ahead of what analysts were calling for on the adjusted profit front, sending PANW stock higher late in the day Thursday.
The Santa Clara, Calif.-based cybersecurity company said that for its first quarter of its fiscal 2019, it amassed a net loss of $38.3 million, or 41 cents per share. The figure was narrower than the company’s net loss of $63.2 million, or 70 cents per share from its year-ago quarter.
On an adjusted basis, Palo Alto Networks brought in earnings of $1.17 per share, ahead of the 75 cents per share it brought in during the year-ago quarter. Analysts were calling for the company to bring in adjusted earnings of $1.05 per share, according to data compiled by FactSet.
The company added that its revenue for the period reached $656 million, ahead of the $632.1 million that analysts were calling for. The figure also topped the $501.8 million that Palo Alto Networks brought in in revenue during its first quarter of its fiscal 2018.
For its second quarter of the current year, the company sees its revenue as $675 million to $685 million, ahead of the $669 million that analysts project. The company forecasts adjusted earnings of $1.20 to $1.22 per share, in line with the $1.20 per share that analysts guide.
PANW stock is up a touch above 0.5% after the bell on Thursday as the company reported its latest quarterly earnings results late in the afternoon, beating the outlook that analysts were calling for. Shares had been sliding about 0.3% during regular trading hours in anticipation of the company’s results.