Palo Alto Networks, Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Palo Alto Networks, Inc. (PANW) announced earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $278.8 million, or $0.79 per share. This compares with $107.8 million, or $0.31 per share, in last year's third quarter.

Excluding items, Palo Alto Networks, Inc. reported adjusted earnings of $454.9 million or $1.32 per share for the period.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.1% to $1.98 billion from $1.72 billion last year.

Palo Alto Networks, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $278.8 Mln. vs. $107.8 Mln. last year. -EPS (Q3): $0.79 vs. $0.31 last year. -Revenue (Q3): $1.98 Bln vs. $1.72 Bln last year.

-Guidance: Next quarter EPS guidance: $1.40 to $1.42 Next quarter revenue guidance: $2.15 to $2.17 bln Full year EPS guidance: $5.56 to $5.58 Full year revenue guidance: $7.99 to $8.01 bln