Scalper1 News
Palo Alto Networks ( PANW ) stock rocketed late Thursday after the cybersecurity firm blasted Wall Street’s fiscal Q2 projections and issued Q3 sales guidance that easily topped consensus estimates, though its EPS outlook missed views. For its fiscal Q2 ended Jan. 31, Palo Alto reported 40 cents earnings per share on $334.7 million in sales, up 110.5% and 54%, respectively, from the year-earlier quarter. Both measures, however, decelerated for the second consecutive quarter. Sales beat the consensus estimate of 40 analysts polled by Thomson Reuters for $318.3 million. Palo Alto topped EPS expectations by a penny. Three months ago, Palo Alto guided sales to $314 million to $318 million and EPS ex items to 38-39 cents. Current-quarter sales guidance for $335 million to $339 million topped analyst forecasts for $334.9 million, but Palo Alto’s EPS ex items guide for 41-42 cents missed expectations for 45 cents. Palo Alto’s Q3 sales would be up 44% at the midpoint of guidance, and EPS ex items would rise 80% at the midpoint. But both metrics would also decelerate for the third consecutive quarter. Palo Alto Networks stock was up more than 2% in after-hours trading, after the company released earnings. Scalper1 News
Scalper1 News