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Revenue surge for Palo Alto Networks

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Miguel A. Rodriguez
Miguel A. Rodriguez
24 August 2021
The global cybersecurity leader posted fiscal fourth quarter 2021 higher-than-expected earnings

Palo Alto Networks revealed a 28% year-over-year revenue increase to $1.22 billion, beating the $1.17 billion estimate. At the same time, the adjusted EPS came in at $1.60, compared to $1.44 initially forecasted.

Currently, the company is in the process of hiking prices for hardware products in the low single digits as supply constraints have increased component costs. According to CEO Nikesh Arora, Palo Alto Networks can benefit from cloud adoption happening across industries, and it can benefit from its own use of cloud resource.

For the fiscal 2022, Palo Alto Networks calls for an adjusted EPS $7.15 - $7.25, on revenues of $5.33 billion at the top of the range.

After the news hit the wires, Palo Alto stock went up 10%. Since the beginning of the year, the company’s share price added 5%, while USA500 gained almost 32%.

 

Sources: cnbc.com, thestreet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.