Palo Alto Networks Trims Outlook

Palo Alto Networks reported sales of $398.1 million for its first quarter of fiscal 2017, up 34% compared with total revenue of $297.2 million for the fiscal first quarter 2016. GAAP net loss for the fiscal first quarter 2017 was $61.8 million, or $0.69 per diluted share, compared with GAAP net loss of $39.9 million, or $0.47 per diluted share, for the fiscal first quarter 2016.

The company trimmed its outlook for Q2, saying it now expects total revenue in the range of $426 to $432 million, representing year-over-year growth between 27 percent and 29 percent. Diluted non-GAAP net income per share are expected in the range of $0.61 to $0.63 using 93.5 to 95.5 million shares.

"Our first quarter 2017 results underscore that our Next-Generation Security Platform uniquely solves customers' most complex security challenges," said Mark McLaughlin, chief executive officer of Palo Alto Networks. "Our platform's ability to provide high degrees of prevention, automation, leverage and consistent security, regardless of wherever data may be, is becoming increasingly important in the face of today's important macro technology changes. As a result, customers and prospects globally are adopting our platform at high rates."

https://www.paloaltonetworks.com