Palo Alto Networks' FY2025 financial report

Palo Alto Networks Exceeds Q4 Expectations with $2.2B Revenue, $1.51 EPS, Stock Up 3%

Aug 19, 2024, 08:07 PM

Palo Alto Networks reported its fiscal fourth quarter and fiscal year 2024 financial results, surpassing Wall Street expectations. The company announced an adjusted earnings per share (EPS) of $1.51, exceeding the anticipated $1.41. Revenue for the quarter reached $2.2 billion, surpassing the expected $2.16 billion, marking a 12% year-over-year increase. For the fiscal year 2024, total revenue grew by 16% to $8.0 billion. The company's next-generation security annual recurring revenue (ARR) increased by 43% year-over-year to $4.2 billion, and the remaining performance obligation rose by 20% to $12.7 billion. Palo Alto Networks also authorized an additional $500 million for share repurchases, bringing the total authorization to $1 billion, set to expire on December 31, 2025. The stock rose 3% after-hours. The company provided guidance for the first quarter of fiscal year 2025, with expected adjusted EPS between $1.47 and $1.49, and revenue guidance for fiscal year 2025 between $9.1 billion and $9.15 billion. The GAAP net income for the fiscal fourth quarter 2024 was $357.7 million, contributing to a market capitalization of $110.54 billion.