Palo Alto Networks (NYSE:PANW) earnings for the cybersecurity company’s fiscal fourth quarter of 2020 have PANW stock on the move after-hours Monday. That comes after reporting adjusted earnings per share of $1.48 on revenue of $950.4 million. Both of these beat out Wall Street’s estimates of $1.39 per share and revenue of $923.51 million.
Here are some additional highlights from the most recent Palo Alto Networks earnings report.
- Adjusted per-share earnings are up less than 1% from $1.47 in the same period of the year prior.
- Revenue for the quarter comes in 18% higher than the $805.8 million reported in fiscal Q4 2019.
- Operating loss of $17.8 million is 79.8% wider year-over-year from $9.9 million.
- The Palo Alto Networks earnings report also has net loss coming in at $58.9 million.
- That’s a 183.2% worse result compared to its net loss of $20.8 million reported during the same time last year.
Nikesh Arora, chairman and CEO of Palo Alto Networks, said the following in the report.
“We had a strong finish to our fiscal year, with fourth quarter billings accelerating to 32% year-over-year growth, driven by strong execution, work-from-home tailwinds, and continued success in next-gen security.”
Palo Alto Networks also includes guidance for its fiscal first quarter of 2021 in the earnings report. It’s expecting an adjusted EPS of $1.32 to $1.35 on revenue of $1.03 billion to $1.05 billion. Wall Street’s estimates include adjusted EPS of $1.18 on revenue of $901.08 million for the quarter.
PANW stock was down 2.6% after-hours Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.