Palo Alto Networks Reports Fiscal First Quarter 2024 Financial Results – Palo Alto Networks>
PaloAltoNtwks –
Palo Alto Networks reported strong financial results for its fiscal first quarter 2024, with total revenue growing 20% year over year to $1.9 billion and GAAP net income reaching $194.2 million.
Additionally, non-GAAP net income for the same period was $466.3 million.
The company’s leadership highlighted significant market demand due to a heightened level of cybersecurity attacks, noting growing customer recognition for the benefits of their security platform.
For the fiscal second quarter 2024, the company anticipates total billings in the range of $2.335 billion to $2.385 billion and total revenue in the range of $1.955 billion to $1.985 billion.
Furthermore, for the fiscal year 2024, Palo Alto Networks expects total billings between $10.7 billion and $10.8 billion, with total revenue projected to reach $8.15 billion to $8.20 billion.
The non-GAAP operating margin for the fiscal year 2024 is estimated to be in the range of 26% to 26.5%.
The company’s complete financial results can be accessed through the company’s official channels.
The press release also contains forward-looking statements and reconciliations between GAAP and non-GAAP financial measures.
Additionally, it includes details about the company’s business environment, risk factors, and the security strategies employed.
For interested parties, Palo Alto Networks will host an earnings webcast and has provided additional information regarding non-GAAP financial measures and key metrics.
Link: https://www.paloaltonetworks.com/company/press/2023/palo-alto-networks-reports-fiscal-first-quarter-2024-financial-results