Shares of the Palo Alto Networks Inc (NYSE: PANW) are down about 9% after the cyber security company reported earnings for the 4th quarter of their fiscal year. The company has disappointed with higher than expected expenses, as forecasted billings grew far slower than the 3 previous quarter.
During the 4th quarter, Palo Alto grew revenue 41% year-over-year to $401 million; billings were up 45% year-over-year to $572 million
Guidance has been slightly weaker than expected by analysts. The company expects sales of $396 million to $402 million for the current quarter ending October 31st. This is an increase of 34% year over year, and yet less than the $402.9 million consensus of analysts polled by Thomson Reuters.
Palo Alto’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.