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The institution saw “notable spot successful ample lawsuit transactions,” said CEO Nikesh Arora.
DreamstimePalo Alto Networks shares gained crushed successful precocious trading Monday aft the security-software institution posted better-than-expected results for its fiscal 4th quarter.
For the 4th ended July 31, Palo Alto Networks (ticker: PANW) reported gross of $1.22 billion, up 28% from a twelvemonth agone and up of the Street statement astatine $1.17 billion. Non-GAAP profits were $1.60 a share, supra statement astatine $1.43 a share. Based connected mostly accepted accounting principles, the institution mislaid $119.3 million, oregon $1.23 a share. Billings were $1.9 billion, up 34%.
The institution said remaining show obligations, a measurement of enactment contracted for but not yet completed, was $5.9 billion, up 36%.
“Our beardown Q4 show was the culmination of executing connected our strategy passim the year, including merchandise innovation, level integration, concern exemplary translation and investments successful our go-to-market organization,” CEO Nikesh Arora said successful a statement. He added that the institution saw “notable spot successful ample lawsuit transactions.”
For the fiscal archetypal 4th ending successful October, the institution is projecting gross of $1.19 cardinal to $1.21 billion, with non-GAAP profits of $1.55 to $1.58 a share. Street statement had called for $1.15 cardinal and $1.60 a share.
For the July 2022 fiscal year, Palo Alto Networks projects gross of $5.275 cardinal to $5.5325 billion, up from $4.3 cardinal successful fiscal 2021 and up of the Street astatine $4.98 billion. The institution sees profits for the twelvemonth ranging from $7.15 to $7.25 a share, supra statement astatine $7.09. Palo Alto Networks sees afloat twelvemonth billings ranging from $6.6 cardinal to $6.65 billion, up from $5.5 cardinal successful fiscal 2021.
The institution besides said that it has accrued its banal repurchase programme by $676.1 million, boosting the full authorization to $1 billion.
In precocious trading, shares of Palo Alto Networks were up 8%, to $402.20.
Write to Eric J. Savitz astatine eric.savitz@barrons.com
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