.August 20, 2024 Tuesday 10:15 AM

Palo Alto Networks (NASDAQ:PANW) saw a more than 2% increase in shares pre-market after reporting strong fiscal fourth-quarter results that surpassed Wall Street expectations. Earnings were $1.51 per share on $2.2 billion in revenue, beating analyst estimates of $1.41 per share and $2.16 billion in revenue. Next-Generation Security annual recurring revenue grew by 43% year-over-year to $4.2 billion due to increased deal-making activity. The company projected fiscal first-quarter adjusted earnings of $1.47 to $1.49 per share, exceeding analyst estimates, with revenue guidance between $2.10 billion and $2.13 billion.

Looking ahead, Palo Alto Networks anticipates adjusted earnings for the full fiscal year 2025 to be in the range of $6.18 to $6.31 per share, with revenue expected to be between $9.10 billion and $9.15 billion. The company’s strong guidance and performance in the fourth quarter reflect increased demand for cybersecurity solutions and a surge in deal-making activity. This positive outlook positions Palo Alto Networks for continued growth and success in the cybersecurity market.