Shares of cybersecurity company Palo Alto Networks, Inc. (PANW) are rising more than 14% Monday morning after reporting improved fourth-quarter earnings, better than the consensus estimates. The company’s full-year outlook also came in above analysts’ view. <\/p>\n
Net income for the fourth quarter was $227.7 million, or $0.64 per share significantly higher than $3.3 million, or $0.01 per share in the same quarter a year ago.<\/p>\n
Excluding one-time items, earnings were $482.5 million, or $1.44 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.93 per share.<\/p>\n
Revenue for the quarter grew 26% year over year to $2.0 billion.<\/p>\n
For the full year, the company expects revenue in the range of $8.15 billion – $8.20 billion. Adjusted income per share for the year is expected in the range of $5.27 – $5.40.<\/p>\n
Analysts expect the company to report earnings of $4.27 per share on revenue of $6.9 billion for the year.<\/p>\n
PANW is at $240.34 currently. It has traded in the range of $132.22 – $258.88 in the last 52 weeks. <\/p>\n