WASHINGTON: Palo Alto Networks announced revenue of USD 400.8 million, up 41 percent year-on-year and better than the company’s outlook, for its fiscal fourth quarter to end-July. However, the cyber security provider’s net loss widened to USD 54.5 million, or USD 0.61 per diluted share, from a loss of USD 46.0 million, or USD 0.55 per share, in the year-earlier period. Fiscal fourth quarter company billings were up 45 percent year on year to USD 572.4 million and the company also announced a USD 500 million share buyback.
Palo Alto Networks described the quarterly results as a very strong finish to a record fiscal year, with revenue for the year up 49 percent to USD 1.4 billion and its customer base expanding to around 34,000 customers. Looking ahead, the company forecast revenue of USD 396 million-USD 402 million for its fiscal Q1, representing year-on-year growth of 33-35 percent and adjusted EPS of USD 0.51-USD 0.53.
