Palo Alto Networks Shares Rise On Improved Q4 Results, Outlook

(RTTNews) - Shares of cybersecurity company Palo Alto Networks, Inc. (PANW) are rising more than 14% Monday morning after reporting improved fourth-quarter earnings, better than the consensus estimates. The company's full-year outlook also came in above analysts' view.

Net income for the fourth quarter was $227.7 million, or $0.64 per share significantly higher than $3.3 million, or $0.01 per share in the same quarter a year ago.

Excluding one-time items, earnings were $482.5 million, or $1.44 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.93 per share.

Revenue for the quarter grew 26% year over year to $2.0 billion.

For the full year, the company expects revenue in the range of $8.15 billion - $8.20 billion. Adjusted income per share for the year is expected in the range of $5.27 - $5.40.

Analysts expect the company to report earnings of $4.27 per share on revenue of $6.9 billion for the year.

PANW is at $240.34 currently. It has traded in the range of $132.22 - $258.88 in the last 52 weeks.