Palo Alto Networks Q2 Earnings: Stock Plummets After Soft Guidance, EPS Beat, Revenue Up 19%
Benzinga
2024-02-21
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Palo Alto Networks Inc (NASDAQ:PANW) reported fiscal second-quarter financial results Tuesday after the bell. Here’s a look at the key metrics from the quarter.
Q2 Earnings: Palo Alto’s fiscal second-quarter revenue increased 19% year-over-year to $1.98 billion, which beat the consensus estimate of $1.97 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.46 per share, which beat analyst estimates of $1.30 per share.
Remaining performance obligations grew 22% year-over-year to $10.8 billion. Adjusted operating margin grew 580 basis points year-over-year to 29%.
“Our leadership across all of our three platforms and growing cross-platform adoption puts us in a strong and unique position,” said Nikesh Arora, chairman and CEO of Palo Alto Networks.
Q2 Earnings: Palo Alto’s fiscal second-quarter revenue increased 19% year-over-year to $1.98 billion, which beat the consensus estimate of $1.97 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.46 per share, which beat analyst estimates of $1.30 per share.
Remaining performance obligations grew 22% year-over-year to $10.8 billion. Adjusted operating margin grew 580 basis points year-over-year to 29%.
“Our leadership across all of our three platforms and growing cross-platform adoption puts us in a strong and unique position,” said Nikesh Arora, chairman and CEO of Palo Alto Networks.
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