Press release
Palo Alto Networks Reports Fiscal Second Quarter 2022 Financial Results. Live earnings call at 2pm Pacific Time Today
- Fiscal second quarter revenue grew 30% year over year to $1.3 billion - Fiscal second quarter billings grew 32% year over year to $1.6 billion - Remaining
About this update from Palo Alto Networks, Inc.
[{"type":"text","content":"- Fiscal second quarter revenue grew 30% year over year to $1.3 billion\n - Fiscal second quarter billings grew 32% year over year to $1.6 billion\n - Remaining performance obligation grew 36% year over year to $6.3 billion\n\n\nSANTA CLARA, Calif., Feb. 22, 2022 /PRNewswire/ -- Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, announced today financial results for its fiscal second quarter 2022, ended January 31, 2022.\nTotal revenue for the fiscal second quarter 2022 grew 30% year over year to $1.3 billion, compared with total revenue of $1.0 billion for the fiscal second quarter 2021. GAAP net loss for the fiscal second quarter 2022 was $93.5 million, or $0.95 per diluted share, compared with GAAP net loss of $142.3 million, or $1.48 per diluted share, for the fiscal second quarter 2021.\nNon-GAAP net income for the fiscal second quarter 2022 was $185.0 million, or $1.74 per diluted share, compared with non-GAAP net income of $154.2 million, or $1.55 per diluted share, for the fiscal second quarter 2021. A reconciliation between GAAP and non-GAAP information is contained in the tables below.\n\"In Q2, our company continued to benefit from strength across our three security platforms, driven by strong cybersecurity demand, organizations architecting for hybrid work and growing their hyperscale cloud footprints,\" said Nikesh Arora, chairman and CEO of Palo Alto Networks. \"On the back of this strength, notably in our next-generation security offerings, we are raising our guidance for the year across revenue, billings, and earnings per share.\"\n\"Total shareholder return was at the forefront of our Q2 results as we continued to deliver on accelerated revenue growth and strong cash flow generation as well as returned capital to shareholders,\" said Dipak Golechha, chief financial officer of Palo Alto Networks. \nFinancial OutlookPalo Alto Networks provides guidance based on current market conditions and expectations. \nFor the fiscal third quarter 2022, we expect:\nTotal billings in the range of $1.59 billion to $1.61 billion, representing year-over-year growth of between 24% and 25%. Total revenue in the range of $1.345 billion to $1.365 billion, representing year-over-year growth of between 25% and 27%. Diluted non-GAAP net income per share in the range of $1.65 to $1.68, using 106 million to 108 million sha...