Press release
Palo Alto Networks Reports Fiscal Second Quarter 2021 Financial Results
- Fiscal second quarter revenue grows 25% year over year to $1.0 billion - Fiscal second quarter billings grows 22% year over year to $1.2 billion - Deferred
About this update from Palo Alto Networks, Inc.
[{"type":"text","content":"- Fiscal second quarter revenue grows 25% year over year to $1.0 billion\n - Fiscal second quarter billings grows 22% year over year to $1.2 billion\n - Deferred revenue grows 30% year over year to $4.2 billion\n\n\nSANTA CLARA, Calif., Feb. 22, 2021 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal second quarter 2021, ended January 31, 2021.\nTotal revenue for the fiscal second quarter 2021 grew 25% year over year to $1.0 billion, compared with total revenue of $816.7 million for the fiscal second quarter 2020. GAAP net loss for the fiscal second quarter 2021 was $142.3 million, or $1.48 per diluted share, compared with GAAP net loss of $73.7 million, or $0.75 per diluted share, for the fiscal second quarter 2020.\nNon-GAAP net income for the fiscal second quarter 2021 was $154.2 million, or $1.55 per diluted share, compared with non-GAAP net income of $120.3 million, or $1.19 per diluted share, for the fiscal second quarter 2020. A reconciliation between GAAP and non-GAAP information is contained in the tables below.\n\"The momentum in the business continues to be strong, with second quarter revenue growth of 25% year over year to over 1 billion USD, driven by strong execution across the board,\" said Nikesh Arora, chairman and CEO of Palo Alto Networks. \"Events like the SolarStorm attack highlight the importance of cybersecurity, and Palo Alto Networks is well positioned to protect our customers with best-of-breed solutions. We are excited about the bets that we have made in SASE, Cloud and AI. Our three-platform strategy is paying off.\" \nFinancial OutlookPalo Alto Networks provides guidance based on current market conditions and expectations.\nFor the fiscal third quarter 2021, the company expects:\nTotal billings in the range of $1.22 billion to $1.24 billion, representing year-over-year growth of between 20% and 22%. Total revenue in the range of $1.05 billion to $1.06 billion, representing year-over-year growth of between 21% and 22%. Diluted non-GAAP net income per share in the range of $1.27 to $1.29, which incorporates net expenses related to the proposed acquisition of Bridgecrew, using 100 million to 102 million shares.For the fiscal year 2021, the company is raising guidance and expects:\nTotal billings in the range of $5.13 billion...