Palo Alto Networks delivered a strong first quarter and upped its outlook as the company continues to land enterprise customers.
The company reported non-GAAP first quarter earnings of $12.8 million, or 15 cents a share, on revenue of $192.3 million, up 50 percent from a year ago. Wall Street was looking for a first quarter non-GAAP profit of 12 cents a share on revenue of $181.7 million.
On a GAAP basis, Pal Alto reported a first quarter loss of 38 cents a share.
As for the outlook, Palo Alto said it sees second quarter non-GAAP earnings of 16 cents a share to 17 cents a share on revenue of $200 million to $204 million. Wall Street was looking for earnings of 16 cents a share on a non-GAAP basis on revenue of $197.9 million.
During the quarter, Palo Alto extended a VMware partnership, launched an endpoint security product and discovered the WireLurker malware.