Palo Alto Networks delivers strong Q3 results

The security company said it added customers at a rapid clip and upped its outlook.
Written by Larry Dignan, Contributor

Security company Palo Alto Networks delivered a strong fiscal third quarter that handily topped expectations.

The company reported a net loss of $60.9 million, or 67 cents a share, on revenue of $431.8 million, up 25 percent from a year ago. Non-GAAP earnings were 61 cents a share.

Wall Street was looking for fiscal third quarter earnings of 55 cents a share on revenue of $412 million.

In a statement, CEO Mark McLaughlin said the company added the "second highest number of new customers in the company's history."

As for the outlook, the company said it expects revenue between $481 million and $491 million with earnings of 78 cents a share to 80 cents a share on a non-GAAP basis. Wall Street was expecting earnings of 74 cents a share on revenue of $485 million.

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