Palo Alto Networks Q3 2020 Earnings Report
Key Takeaways
Palo Alto Networks reported a 20% year-over-year increase in revenue for the fiscal third quarter of 2020, reaching $869.4 million. While GAAP net loss was $74.8 million, non-GAAP net income stood at $114.6 million. The company is focusing on leveraging trends such as remote working and cloud adoption to drive cybersecurity outcomes.
Fiscal third quarter revenue grew 20% year over year to $869.4 million.
Billings increased 24% year over year to $1.0 billion.
Deferred revenue grew 28% year over year to $3.4 billion.
Non-GAAP net income was $114.6 million, or $1.17 per diluted share.
Palo Alto Networks
Palo Alto Networks
Palo Alto Networks Revenue by Segment
Forward Guidance
Palo Alto Networks expects total revenue between $915 million and $925 million, representing year-over-year growth between 14% and 15%. Diluted non-GAAP net income per share is expected to be in the range of $1.37 to $1.40.
Positive Outlook
- Total billings in the range of $1.190 billion to $1.210 billion, representing year-over-year growth of between 13% and 14%.
- Total revenue in the range of $915 million to $925 million, representing year-over-year growth between 14% and 15%.
- Diluted non-GAAP net income per share in the range of $1.37 to $1.40.