Palo Alto Networks Results Top Estimate; Q2 Outlook Strong

(RTTNews) - Palo Alto Networks Inc (PANW) Monday reported first-quarter net loss of $30 million or $0.38 per share compared with a loss of $7.9 million or $0.11 per share last year.

Excluding items, adjusted earnings for the quarter were $0.15 per share compared with earnings of $0.08 per share a year ago.

Revenues for the quarter were $192 million compared with $128 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.12 per share on revenues of $181.7 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings of $0.16 to $0.17 per share on revenues of $200 million to $204 million. Analysts expect earnings of $0.16 per share on revenues of $198 million.

Palo Alto Networks provides enterprise security platform to enterprises, service providers, and government entities.