Palo Alto Networks Tumbles 5% as It Cuts Full-Year Billings Forecast

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Palo Alto Networks Tumbles 5% as It Cuts Full-Year Billings Forecast

seekingalpha2023-11-16

Palo Alto Networks (NASDAQ:PANW) tumbled 5% in premarket trading as its lowered its billings forecast for the fiscal year.For fiscal 2024, the company expects total billings in the range of $10.7B to ...

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Slowdownpok
·2023-11-16
Even Palo cuts forecast... means economic situation not good shape
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That compares to a prior estimate of $10.9B to $11B.</p><p style=\"text-align: left;\">Revenue is forecast in the range of $8.15B to $8.20B versus the estimate of $8.19B and non-GAAP net income per share is forecast in the range of $5.40 to $5.53 compared to the estimate of $5.34 per share.</p><p style=\"text-align: left;\">For the first fiscal quarter, revenue of $1.9B compared to the average analyst estimate of $1.84B and non-GAAP earnings came in at $1.38 per share, above the estimate of $1.16 per share.</p><p style=\"text-align: left;\">&#34;An unprecedented level of attacks is fueling strong demand in the cybersecurity market,&#34; said Nikesh Arora, chairman and CEO of Palo Alto Networks (PANW). &#34;We continue to execute on platformization as customers recognize the benefits we can provide in simplifying security architectures and driving better security outcomes.&#34;</p><p style=\"text-align: left;\">For the second-quarter, Palo Alto (PANW) expects billings in the range of $2.335B to $2.385B and revenue in the range of $1.955B to $1.985B compared to the estimate of $1.97B and non-GAAP net income per share in the range of $1.29 to $1.31, versus the expectation of $1.25 per share.</p></body></html>","source":"lsy1642056764450","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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That compares to a prior estimate of $10.9B to $11B.Revenue is forecast in the range of $8.15B to $8.20B versus the estimate of $8.19B and non-GAAP net income per share is forecast in the range of $5.40 to $5.53 compared to the estimate of $5.34 per share.For the first fiscal quarter, revenue of $1.9B compared to the average analyst estimate of $1.84B and non-GAAP earnings came in at $1.38 per share, above the estimate of $1.16 per share.\"An unprecedented level of attacks is fueling strong demand in the cybersecurity market,\" said Nikesh Arora, chairman and CEO of Palo Alto Networks (PANW). \"We continue to execute on platformization as customers recognize the benefits we can provide in simplifying security architectures and driving better security outcomes.\"For the second-quarter, Palo Alto (PANW) expects billings in the range of $2.335B to $2.385B and revenue in the range of $1.955B to $1.985B compared to the estimate of $1.97B and non-GAAP net income per share in the range of $1.29 to $1.31, versus the expectation of $1.25 per share.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}