Shares of security company Palo Alto Networks jumped as much as 11 percent Tuesday after the bell after the company reported better-than-expected earnings for the second quarter of its 2019 fiscal year, which ended Jan. 31.
Here are the major numbers:
- Earnings: $1.51 per share, excluding certain items, vs. $1.22 per share as expected by analysts, according to Refinitiv.
- Revenue: $711.2 million, vs. $682 million as expected by analysts, according to Refinitiv.
Revenue was up 30 percent in the quarter, the company said in a statement.
The quarter saw growth in its hardware footprint at one of the biggest online gaming companies and one of the world’s biggest retailers, CEO Nikesh Arora told investors on the company’s conference call with analysts.
Palo Alto Networks also issued guidance for the fiscal third quarter that was roughly in line with analysts’ expectations.
The company expects earnings of $1.23 to $1.25 per share, excluding certain items, in the fiscal third quarter. The midpoint of the range was a penny below the FactSet analyst consensus of $1.25 per share, excluding certain items, and that number takes into consideration expenses from Palo Alto Networks’ $560 million acquisition of Demisto, which was announced last week.
The Demisto group is looking to achieve $50 million to $55 million in billings in 2019, Arora said.
The company is calling for $697 million to $707 million in revenue for the quarter. The midpoint of $702 million is higher than the $696.7 million FactSet estimate.
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