Palo Alto Networks, a leading cybersecurity company, saw its stock price jump 11% in extended trading following the release of its latest earnings results. The company’s fiscal fourth-quarter earnings and first-quarter earnings guidance exceeded analysts’ estimates.
For the fourth quarter, Palo Alto Networks reported adjusted earnings of $1.44 per share, surpassing the $1.28 per share expected by analysts. However, the company’s revenue fell slightly short of expectations, with fourth-quarter revenue at $1.953 billion compared to the consensus estimate of $1.956 billion.
Looking ahead, Palo Alto Networks issued first-quarter guidance, projecting adjusted earnings per share in the range of $1.15 to $1.17, higher than the estimated $1.11 per share. However, the company’s revenue forecast fell short, with a range of $1.82 billion to $1.85 billion compared to the expected $1.93 billion.
Despite the positive earnings results, the stock had been down by 16% in August as of Friday’s close. The market reaction to the better-than-expected earnings could indicate a possible rebound for the company.
In other news, S&P 500 futures opened with little change on Sunday night. Dow Jones Industrial Average futures remained flat, while S&P 500 futures slightly increased by 0.03%, and Nasdaq 100 futures rose by 0.19%.
These small movements in futures markets suggest a cautious start to the trading week, as investors keep a close eye on economic indicators and global developments.