Palo Alto Networks Earnings Handily Beat Views, Guidance Mixed

Palo Alto Networks (PANW) on Tuesday reported fiscal second-quarter earnings and revenue that topped Wall Street targets. Guidance for PANW stock came in mixed.

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The cybersecurity firm said profit rose 81% year over year to $1.05 per share on an adjusted basis. Including acquisitions, revenue rose 26% to $1.7 billion. Analysts expected earnings of 78 cents a share on sales of $1.65 billion.

For the current quarter ending in April, Palo Alto projected earnings of 92 cents a share on revenue in a range of $1.69 billion to $1.72 billion. Analysts had estimated profit of 79 cents a share on revenue of $1.74 billion.

Palo Alto stock rose 5.2% to 176.53 in extended trading on the stock market today.

PANW stock has advanced 19% thus far in 2023. It holds a Relative Strength Rating of 67 out of a best-possible 99, according to IBD Stock Checkup.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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