Palo Alto Networks Lifts Adjusted EPS Outlook After Better-Than-Expected 1Q

By Paul Ziobro

Palo Alto Networks raised its full-year outlook for adjusted per share earnings and lowered guidance for total billings after posting fiscal first-quarter results ahead of Wall Street expectations.

The Santa Clara, Calif.-based cybersecurity company said it expects adjusted per share earnings between $5.40 and $5.53 this year, compared to a prior range of $5.27 to $5.40.

It still expects total revenue between $8.15 billion and $8.2 billion.

The company lowered its guidance for total billings to between $10.7 billion and $10.8 billion, compared to a prior range between $10.9 billion and $11 billion.

For its current second quarter, Palo Alto Networks expects adjusted per-share earnings between $1.29 and $1.31 on revenue between $1.96 billion and $1.99 billion. Analysts recently polled by FactSet expected adjusted earnings of $1.25 a share on revenue of $1.97 billion.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

November 15, 2023 16:52 ET (21:52 GMT)

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