Palo Alto Networks Reports Fiscal First Quarter 2020 Financial Results

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[{"type":"text","content":"SANTA CLARA, Calif., Nov. 25, 2019 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal first quarter 2020, ended October 31, 2019.\nTotal revenue for the fiscal first quarter 2020 grew 18 percent year over year to $771.9 million, compared with total revenue of $656.0 million for the fiscal first quarter 2019. GAAP net loss for the fiscal first quarter 2020 was $59.6 million, or $0.62 per diluted share, compared with GAAP net loss of $38.3 million, or $0.41 per diluted share, for the fiscal first quarter 2019.\nNon-GAAP net income for the fiscal first quarter 2020 was $104.8 million, or $1.05 per diluted share, compared with non-GAAP net income of $115.4 million, or $1.17 per diluted share, for the fiscal first quarter 2019. A reconciliation between GAAP and non-GAAP information is contained in the tables below.\n\"Palo Alto Networks' multi-platform approach to security is clearly resonating with our customers. Our Next-Gen Security offerings performed extremely well in our first fiscal quarter, bolstering our confidence in our long-term prospects for Prisma and Cortex,\" said Nikesh Arora, chairman and CEO of Palo Alto Networks. \"At our recent Ignite conference, we introduced significant product enhancements, including Cortex XDR 2.0, SD-WAN and DLP capabilities for Prisma Access and the integration of Twistlock and PureSec into Prisma Cloud, that should sustain this momentum. Additionally, we expect our proposed acquisition of Aporeto, announced today, will further extend our leadership in cloud security.\"\nFinancial OutlookPalo Alto Networks provides guidance based on current market conditions and expectations.\nFor the fiscal second quarter 2020, we expect:\nTotal revenue in the range of $838 to $848 million, representing year-over-year growth between 18 percent and 19 percent. Total billings in the range of $985 million to $1.0 billion, representing year-over-year growth between 16 percent and 17 percent. Diluted non-GAAP net income per share in the range of $1.11 to $1.13, which incorporates net expenses related to the proposed acquisition of Aporeto, using 100 to 102 million shares.For the fiscal year 2020, we expect:\nTotal revenue in the range of $3.44 to $3.48 billion, representing year-over-year growth between 19 percent and 20 percent. To...

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