How Palo Alto Networks Beat Expectations

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Palo Alto Networks Inc. (NYSE: PANW) reported fiscal third quarter 2017 adjusted diluted earnings per share (EPS) of $0.61 on revenue of $431.8 million. In the same period a year ago, the network security company reported EPS of $0.46 on revenue of $345.8 million. Third-quarter results compare to consensus estimates for EPS of $0.55 and $411.92 million in revenue.

On a GAAP basis, the company posted a per-share net loss of $0.67 compared with a loss of $0.73 in the same quarter a year ago. Adjusted earnings excluded the negative effects of share-based compensation of $1.30 per share and other adjustments, partially offset by $0.20 per share in tax adjustments.

CEO Mark McLaughlin said:

We reported record revenue of $432 million in our fiscal third quarter and added the second highest number of new customers in the company’s history. The integrated and highly automated prevention capabilities of our Next-Generation Security Platform continue to differentiate us in the market as we help our customers protect our digital way of life.