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Apr 30, 2024
Palo Alto Networks Q3 2024 Earnings Report
Reported fiscal third quarter 2024 financial results with revenue growth and increased remaining performance obligation.
Key Takeaways
Palo Alto Networks announced its fiscal third quarter 2024 results, with total revenue growing 15% year over year to $2.0 billion. GAAP net income was $278.8 million, or $0.79 per diluted share, while non-GAAP net income was $454.9 million, or $1.32 per diluted share. The company's remaining performance obligation grew 23% year over year to $11.3 billion.
Fiscal third quarter revenue grew 15% year over year to $2.0 billion.
Remaining performance obligation grew 23% year over year to $11.3 billion.
GAAP net income for the fiscal third quarter 2024 was $278.8 million, or $0.79 per diluted share.
Non-GAAP net income for the fiscal third quarter 2024 was $454.9 million, or $1.32 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
For the fiscal fourth quarter 2024, Palo Alto Networks expects total revenue in the range of $2.15 billion to $2.17 billion, representing year-over-year growth of between 10% and 11%, and diluted non-GAAP net income per share in the range of $1.40 to $1.42.
Positive Outlook
- Total billings in the range of $3.43 billion to $3.48 billion, representing year-over-year growth of between 9% and 10%.
- Total revenue in the range of $2.15 billion to $2.17 billion, representing year-over-year growth of between 10% and 11%.
- Diluted non-GAAP net income per share in the range of $1.40 to $1.42, using 345 million to 347 million shares outstanding.
- Total revenue in the range of $7.99 billion to $8.01 billion, representing year-over-year growth of 16%.
- Adjusted free cash flow margin in the range of 38.5% to 39.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income