Palo Alto Networks Q3 2021 Earnings Report
Key Takeaways
Palo Alto Networks reported a 24% year-over-year increase in revenue for the fiscal third quarter 2021, reaching $1.1 billion. Billings grew by 27% year-over-year, and the company raised its guidance for the fiscal year 2021. However, the company's GAAP net loss increased compared to the same period last year.
Fiscal third quarter revenue grew 24% year over year to $1.1 billion.
Fiscal third quarter billings grew 27% year over year to $1.3 billion.
Deferred revenue grew 30% year over year to $4.4 billion.
The company is raising its guidance for fiscal year 2021.
Palo Alto Networks
Palo Alto Networks
Palo Alto Networks Revenue by Segment
Forward Guidance
For the fiscal fourth quarter 2021, Palo Alto Networks expects total billings in the range of $1.695 billion to $1.715 billion, representing year-over-year growth of between 22% and 23%, and total revenue in the range of $1.165 billion to $1.175 billion, representing year-over-year growth of between 23% and 24%. Diluted non-GAAP net income per share is expected to be in the range of $1.42 to $1.44, using 101 million to 103 million shares.
Positive Outlook
- Total billings are expected to grow between 22% and 23% year-over-year.
- Total revenue is expected to grow between 23% and 24% year-over-year.
- Diluted non-GAAP net income per share is expected to be in the range of $1.42 to $1.44.
- Company expects revenue between $1.165 billion and $1.175 billion
- Company expects billings between $1.695 billion and $1.715 billion