SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Palo Alto Networks Inc. (PANW) on Wednesday reported fiscal first-quarter net income of $350.7 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of 99 cents. Earnings, adjusted for one-time gains and costs, came to $1.56 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The security software maker posted revenue of $2.14 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $2.12 billion.
For the current quarter ending in January, Palo Alto expects its per-share earnings to range from $1.54 to $1.56.
The company said it expects revenue in the range of $2.22 billion to $2.25 billion for the fiscal second quarter.
Palo Alto expects full-year earnings in the range of $6.26 to $6.39 per share, with revenue ranging from $9.12 billion to $9.17 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PANW at https://www.zacks.com/ap/PANW
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