Palo Alto Networks Beats Q1 Earnings, Announces 2-for-1 Stock Split

Nov 20, 2024, 09:12 PM

Palo Alto Networks Inc. reported its fiscal first quarter 2025 earnings, surpassing expectations with an adjusted earnings per share (EPS) of $1.56, beating the consensus estimate of $1.48. The company's revenue reached $2.14 billion, slightly above the anticipated $2.12 billion, representing a 14% year-over-year growth. The cybersecurity firm also announced a 2-for-1 stock split, with shareholders of record as of December 12, 2024, set to receive an additional share for each share held. The split-adjusted trading will commence on December 16, 2024. Despite the positive earnings report, Palo Alto Networks' stock experienced a decline of approximately 4.47% in after-hours trading. The company's GAAP net income for the quarter was $350.7 million, or $0.99 per diluted share, marking an 81% increase year over year.