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Apr 30, 2022
Palo Alto Networks Q3 2022 Earnings Report
Palo Alto Networks' fiscal third quarter revenue grew, driven by strong cybersecurity demand.
Key Takeaways
Palo Alto Networks reported a strong fiscal third quarter with revenue growth of 29% year over year to $1.4 billion. The company raised its guidance for the year across revenue, billings and earnings per share.
Fiscal third quarter revenue grew 29% year over year to $1.4 billion
Fiscal third quarter billings grew 40% year over year to $1.8 billion
Remaining performance obligation grew 40% year over year to $6.9 billion
The company is raising its guidance for the year across revenue, billings and earnings per 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
For the fiscal fourth quarter 2022, Palo Alto Networks expects total revenue in the range of $1.53 billion to $1.55 billion, representing year over year growth of between 25% and 27%, and diluted non-GAAP net income per share in the range of $2.26 to $2.29.
Positive Outlook
- Total billings in the range of $2.32 billion to $2.35 billion, representing year over year growth of between 24% and 26%.
- Total revenue in the range of $1.53 billion to $1.55 billion, representing year over year growth of between 25% and 27%.
- Diluted non-GAAP net income per share in the range of $2.26 to $2.29, using 106 million to 108 million shares outstanding.
- Total billings in the range of $7.106 billion to $7.136 billion, representing year over year growth of between 30% and 31% for fiscal year 2022.
- Total revenue in the range of $5.481 billion to $5.501 billion, representing year over year growth of approximately 29% for fiscal year 2022.
Challenges Ahead
- Guidance excludes share-based compensation-related charges.
- Guidance excludes acquisition-related costs.
- Guidance excludes amortization expense of acquired intangible assets.
- Guidance excludes litigation-related charges, including legal settlements.
- Guidance excludes non-cash charges related to convertible notes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income