Palo Alto Networks posts strong Q4, revenue up 59 percent

​The cybersecurity firm reported non-GAAP fourth quarter earnings of $25 million, or 28 cents a share, on revenue of $283.9 million.

Palo Alto Networks released its fourth quarter earnings and revenue report Wednesday after the bell.

The cybersecurity firm reported non-GAAP fourth quarter earnings of $25 million, or 28 cents a share, on revenue of $283.9 million, up 59 percent from a year ago (statement).

Analysts were expecting the security-software vendor to report earnings of 25 cents a share on revenue of $256.25 million.

The company's Q4 billings grew 69 percent year-over-year to $393.6 million.

Palo Alto CEO Mark McLaughlin said the company wraps up its fiscal year with 26,000 customers and $928.1 million in revenue.

"We are significantly outgrowing the market and rapidly taking share," McLaughlin said in a canned statement. "Once again, our performance demonstrates that our natively integrated and automated security platform is highly differentiated, and our focus on innovation continues to increase our lead over the competition."

In terms of guidance, Palo Alto expects EPS in the range of 31 cents to 32 cents and revenue in the range of $280 million to $284 million. The company's stock climbed 5 percent in after-hours trading following the strong report.