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Apr 30, 2020
Palo Alto Networks Q3 2020 Earnings Report
Palo Alto Networks' financial performance showed revenue growth and strategic positioning amidst market transitions.
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
Revenue by Segment
Product Revenue
CapyFin.comSubscription and Support Revenue
CapyFin.com 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.