The cyber security company
Palo Alto
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Publishes its results for the first quarter of 2022, in which it beat analysts’ expectations in the top and bottom line. In addition, the company is raising its forecasts for the coming quarter and for the entire year.
The company’s revenue in the first quarter was about $ 1.4 billion, an increase of about 29% compared to about $ 1.07 billion in the corresponding quarter last year. Early analysts had expected quarterly revenue of $ 1.36 billion.
Bottom line, the company reports adjusted earnings of about $ 1.79 per share, growth of about 30% compared to about $ 1.38 per share in the same quarter last year, and above analysts’ expected earnings of $ 1.68 per share.
Forecasts
The company expects to end the next quarter (Q2) with revenues in the range of $ 1.53-1.55 billion, representing a growth of between 25% and 27% compared to the same quarter last year. Bottom line, they expect adjusted non-GAAP earnings to be in the range of $ 2.26-2.29 per share. Analysts had expected revenue of $ 1.35 billion on adjusted earnings of $ 2.2 per share.
The entire year (2022) they expect to end with revenues in the range of $ 5.48-5.5 billion, representing annual growth of about 29%. Net income will be in the range of $ 7.43-7.46 per share. Analysts expect annual revenue of $ 5.46 billion, along with adjusted earnings of $ 7.29 per share.
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It is not clear why it goes down? (LT)
Moshe Leder
20/05/2022
03:15
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