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Palo Alto Networks (NASDAQ:) rose greater than 11% after-hours following the corporate’s Q3 outcomes, with EPS of $1.79 coming in higher than the road estimate of $1.68. Income grew 29% year-over-year to $1.4 billion, beating the Avenue estimate of $1.36 billion. Q3 billings elevated 40% year-over-year to $1.8 billion.
“We noticed sturdy top-line development in Q3, which is a testomony to our groups’ constant execution in capitalizing on the sturdy cybersecurity demand tendencies,” mentioned Nikesh Arora, chairman and CEO of Palo Alto Networks. “On the again of this power throughout our portfolio, we’re once more elevating our steerage for the 12 months throughout income, billings and earnings per share.”
The corporate expects This fall/22 EPS within the vary of $2.26-$2.29, in comparison with the consensus of $2.22, and income within the vary of $1.53-1.55 billion, in comparison with the consensus of $1.53 billion.
For the total 2022-year, the corporate expects whole income of $5.481-$5.501 billion and diluted non-GAAP EPS of $7.43-7.46, versus the consensus of $5.46 billion and $7.29, respectively.
Shares of Palo Alto Networks have been down 22% year-to-date into the outcomes.
By Davit Kirakosyan
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