Palo Alto Networks (NYSE:PANW) stock is on the rise Tuesday following the release of the company’s fiscal fourth quarter of 2021.
Let’s dive into those earnings below to see what has PANW stock heading higher today!
- Let’s start with its adjusted earnings per share of $1.60.
- That’s a boon to PANW stock as it beats out Wall Street’s adjusted EPS estimate of $1.43.
- It’s also an increase over the company’s adjusted EPS of $1.48 from the same period of the year prior.
- To go along with this, the company reported revenue of $1.2 billion.
- That’s also better than analysts’ revenue estimate of $1.17 billion for the quarter.
- It’s also a 28% increase over the company’s revenue of $950.4 million from the same time last year.
- Palo Alto Networks; outlook for its fiscal 2022 is also boosting PANW stock today.
- The company is expecting diluted earnings per share for the year to range from $7.15 to $7.25.
- This would have it beating out Wall Street’s estimate of $7.09 for the year.
- It’s also estimating revenue of $5.275 billion to $5.325 billion.
- This would also come in above analysts’ revenue estimates of $4.98 billion for the period.
Nikesh Arora, chairman and CEO of Palo Alto Networks, said the following in the earnings report.
“Our strong Q4 performance was the culmination of executing on our strategy throughout the year, including product innovation, platform integration, business model transformation and investments in our go-to-market organization. In particular, we saw notable strength in large customer transactions with strategic commitments across our Strata, Prisma and Cortex platforms.”
PANW stock was up 17.8% as of Tuesday morning and is up 24.8% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
