Palo Alto Networks Q1 2024 Earnings Report
Key Takeaways
Palo Alto Networks reported a 20% year-over-year increase in revenue, reaching $1.9 billion for the fiscal first quarter 2024. The company's GAAP net income was $194.2 million, or $0.56 per diluted share, while non-GAAP net income was $466.3 million, or $1.38 per diluted share. Remaining performance obligation grew 26% year over year to $10.4 billion.
Fiscal first quarter revenue grew 20% year over year to $1.9 billion.
Remaining performance obligation grew 26% year over year to $10.4 billion.
Fiscal first quarter Non-GAAP operating margin and Non-GAAP net income per share ahead of guidance.
FY’24 guidance raised on both Non-GAAP operating margin and Non-GAAP net income per share metrics.
Palo Alto Networks
Palo Alto Networks
Palo Alto Networks Revenue by Segment
Forward Guidance
Palo Alto Networks provides guidance based on current market conditions and expectations. For the fiscal second quarter 2024, we expect: Total billings in the range of $2.335 billion to $2.385 billion, representing year-over-year growth of between 15% and 18%. Total revenue in the range of $1.955 billion to $1.985 billion, representing year-over-year growth of between 18% and 20%. Diluted non-GAAP net income per share in the range of $1.29 to $1.31, using 339 million to 342 million shares outstanding.