Palo Alto Networks Inc (NASDAQ:PANW) shares are trading higher Tuesday after the company reported better-than-expected financial results, authorized a new buyback and issued strong guidance. Multiple analysts also raised price targets on the stock following the print.
Q4 Revenue: $2.189 billion, versus estimates of $2.162 billion
Q4 EPS: $1.51, versus estimates of $1.41
Total revenue was up 12% year-over-year. Remaining performance obligations grew 20% year-over-year to $12.7 billion. Next-generation security annual recurring revenue increased 43% year-over-year to $4.2 billion.
"We finished off the year with strong execution on our platformization strategy in Q4. As we look forward to fiscal year 2025 and beyond, we are focused on scaling our Next-Generation Security business through continued innovation and execution," said Nikesh Arora, chairman and CEO of Palo Alto Networks.
Palo Alto's ...
