On Thursday after the bell, security company which consists of next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud, Palo Alto (NASDAQ: PANW), reported Q3 results of $0.42 EPS which is in-line with consensus estimates, and revenue of $345.8M (+47.7% Year to Year) that beat analysts’ expectations of $339.48M.
- Received industry analyst recognition
- Extended breach prevention to multi-cloud environments and SaaS applications
- Joined with PricewaterhouseCoopers (PwC)
- Entered global agreement with BT
- This year’s best place to work in the Bay Area.
"Our record fiscal third quarter 2016 results continue to underscore the market demand for our unique Next-Generation Security Platform as more than 31,000 new and existing customers are working with Palo Alto Networks to solve their most difficult security needs," said Mark McLaughlin, president and chief executive officer of Palo Alto Networks. "Security has never been more critical than it is today, and our platform delivers natively integrated and highly automated prevention outcomes, allowing us to continue to significantly outpace the competition as we further establish ourselves as the leader in cybersecurity."
"Robust new customer additions and expansion in existing accounts resulted in market-leading, year over year growth as customers increased their investments in our Next-Generation Security Platform, with particular strength in our subscription services," said Steffan Tomlinson, chief financial officer of Palo Alto Networks. "We continue to balance growth and profitability and once again delivered record revenue, billings and cash flow, with cash flow from operations margin of 49 percent and free cash flow margin of 44 percent."
- Total revenue in the range of $386 to $390 million, representing year over year growth between 36 percent and 37 percent.
- Diluted non-GAAP net income per share in the range of $0.48 to $0.50 using 91 to 93 million shares.
Shares of PANW down over $18.41 (-12.42%) as of early Friday afternoon.