Palo Alto Networks Q2 2020 Earnings Report
Key Takeaways
Palo Alto Networks reported a 15% year-over-year increase in revenue for the fiscal second quarter of 2020, reaching $816.7 million. However, the company experienced a GAAP net loss of $73.7 million, compared to a net loss of $2.6 million in the same quarter of the previous year. Non-GAAP net income was $120.3 million, down from $147.0 million year-over-year. The company announced a proposed $1 billion accelerated share repurchase transaction.
Fiscal second quarter revenue increased 15% year-over-year to $816.7 million.
Billings grew 17% year-over-year to $998.9 million.
Deferred revenue increased 27% year-over-year to $3.2 billion.
Announced a proposed $1 billion accelerated share repurchase transaction.
Palo Alto Networks
Palo Alto Networks
Palo Alto Networks Revenue by Segment
Forward Guidance
Palo Alto Networks expects revenue between $835 to $850 million, billings between $980 million and $1.000 billion, and diluted non-GAAP net income per share between $0.96 and $0.98 for the fiscal third quarter 2020. For the full fiscal year 2020, they expect revenue between $3.350 to $3.390 billion, billings between $4.075 to $4.125 billion, and diluted non-GAAP net income per share between $4.55 and $4.65.
Positive Outlook
- Expects revenue between $835 to $850 million for Q3 2020, representing year-over-year growth between 15% and 17%.
- Expects billings between $980 million and $1.000 billion for Q3 2020, representing year-over-year growth between 19% and 22%.
- Expects diluted non-GAAP net income per share in the range of $0.96 to $0.98 for Q3 2020.
- Expects revenue between $3.350 to $3.390 billion for fiscal year 2020, representing year-over-year growth between 16% and 17%.
- Expects billings between $4.075 to $4.125 billion for fiscal year 2020, representing year-over-year growth between 17% and 18%.