Palo Alto Networks beats by $0.10, beats on revs; guides OctQ EPS above consensus, revs in-line; guides FY25 EPS and revs in-line; increases buyback authorization by $500 mln to $1 bln (343.36 +9.25)
- Reports Q4 (Jul) earnings of $1.51 per share, excluding non-recurring items, $0.10 better than the FactSet Consensus of $1.41; revenues rose 12.1% year/year to $2.19 bln vs the $2.16 bln FactSet Consensus.
- Next-Generation Security ARR grew 43% yr/yr to $4.2 bln.
- Remaining performance obligation grew 20% yr/yr to $12.7 bln.
- Co issues guidance for Q1 (Oct), sees EPS of $1.47-1.49, excluding non-recurring items, vs. $1.42 FactSet Consensus; sees Q1 revs of $2.10-2.13 bln vs. $2.10 bln FactSet Consensus.
- Co issues in-line guidance for FY25, sees EPS of $6.18-6.31, excluding non-recurring items, vs. $6.22 FactSet Consensus; sees FY25 revs of $9.10-9.15 bln vs. $9.11 bln FactSet Consensus.
- "We finished off the year with strong execution on our platformization strategy in Q4," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "As we look forward to fiscal year 2025 and beyond, we are focused on scaling our Next-Generation Security business through continued innovation and execution."
- Co also approves an additional $500 mln for share repurchases, increasing the remaining authorization for future share repurchases to $1 bln.