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Palo Alto Networks Nosedives 17% In After Hours On Poor Q2 Earnings
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Palo Alto Networks, Inc. (PANW - Free Report) just released its second quarter fiscal 2017 earnings results, posting earnings of -$0.58 per share and revenue of $422.6 million.
PANW was down 17.73% to $124.97 in after-hours trading shortly after its earnings report was released.
Currently, PANW has a Zacks Rank #1 (Strong Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Palo Alto Networks, Inc.:
Missed earnings estimates. The company posted earnings of -$0.58 cents per share, missing our Zacks Consensus Estimate of -$0.38 per share. Zacks estimates excluded $0.09 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $422.6 million, missing our estimate of $429.6 million.
The company released their acquisition of LightCyber which will enhance their Next-Generation Security Platform through LightCyber’s automated behavioral analytics capabilities.
A $500 million share repurchase increase was announced bringing their total repurchase authorization to $1 billion.
"While fiscal second quarter revenue of $423 million was yet another record for the company, we were disappointed that we came in below top-line expectations due to some execution challenges, which we are moving quickly to address," stated CEO Mark McLaughlin.
Here’s a graph that looks at Palo Alto Networks’ price, consensus and EPS surprise:
Palo Alto Networks, Inc. Price, Consensus and EPS Surprise
Palo Alto Networks Inc. is a network security company providing services to enterprises, service providers, and government entities. Their platform combines network, cloud and endpoint security with advanced threat intelligence which allows for preventive protection against cyber threats. The company has over 35,000 customers in 140 countries across multiple sectors.
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Palo Alto Networks Nosedives 17% In After Hours On Poor Q2 Earnings
Palo Alto Networks, Inc. (PANW - Free Report) just released its second quarter fiscal 2017 earnings results, posting earnings of -$0.58 per share and revenue of $422.6 million.
PANW was down 17.73% to $124.97 in after-hours trading shortly after its earnings report was released.
Currently, PANW has a Zacks Rank #1 (Strong Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Palo Alto Networks, Inc.:
Missed earnings estimates. The company posted earnings of -$0.58 cents per share, missing our Zacks Consensus Estimate of -$0.38 per share. Zacks estimates excluded $0.09 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $422.6 million, missing our estimate of $429.6 million.
The company released their acquisition of LightCyber which will enhance their Next-Generation Security Platform through LightCyber’s automated behavioral analytics capabilities.
A $500 million share repurchase increase was announced bringing their total repurchase authorization to $1 billion.
"While fiscal second quarter revenue of $423 million was yet another record for the company, we were disappointed that we came in below top-line expectations due to some execution challenges, which we are moving quickly to address," stated CEO Mark McLaughlin.
Here’s a graph that looks at Palo Alto Networks’ price, consensus and EPS surprise:
Palo Alto Networks, Inc. Price, Consensus and EPS Surprise
Palo Alto Networks Inc. is a network security company providing services to enterprises, service providers, and government entities. Their platform combines network, cloud and endpoint security with advanced threat intelligence which allows for preventive protection against cyber threats. The company has over 35,000 customers in 140 countries across multiple sectors.
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>