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Palo Alto Networks (PANW) profit and fourth-quarter sales figure, announced late Tuesday, has exceeded analysts' estimates. The Palo Alto earnings report allowed the stock to climb into the market after normal trading hours, with earnings forecasts for the April quarter growing slightly.
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The late gain placed Palo Alto above an entry point of 239.60. The action of Palo Alto has climbed 6.1% to 250 after trading hours today.
The cybersecurity firm reported adjusted earnings of $ 1.51 per share, up 44% from the previous year, with business revenue up 30% to $ 711.2 million of dollars. A year earlier, Palo Alto earnings were $ 1.05 per share for sales of $ 542.4 million.
Analysts expect a profit of $ 1.22 on Palo Alto and a turnover of $ 682 million for the period ended January 31.
Palo Alto said invoices jumped 27 percent to $ 852.5 million. This exceeds analysts' forecasts of $ 830 million.
Palo Alto announces a share buyback
For the April quarter, Palo Alto said it expects earnings of $ 1.24 per share, including the costs related to the Demisto acquisition, in line with estimates. Palo Alto said it expects a $ 702 million business turnover mid-way through its forecast, just above estimates of $ 697 million.
The company said its board of directors had authorized a $ 1 billion stock repurchase program.
Palo Alto is mainly competitive in the network security market "firewall", Fortinet (FTNT) and others. Firewalls prevent unauthorized traffic from entering a private network and monitoring web applications.
The company is ranked # 5 on the IBD 50 growth list. It's also a stock of industry leaders.
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