Press release
Palo Alto Networks Reports Fiscal Third Quarter 2021 Financial Results
- Fiscal third quarter revenue grows 24% year over year to $1.1 billion - Fiscal third quarter billings grows 27% year over year to $1.3 billion - Deferred
About this update from Palo Alto Networks, Inc.
[{"type":"text","content":"- Fiscal third quarter revenue grows 24% year over year to $1.1 billion\n - Fiscal third quarter billings grows 27% year over year to $1.3 billion\n - Deferred revenue grows 30% year over year to $4.4 billion\n\n\nSANTA CLARA, Calif., May 20, 2021 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal third quarter 2021, ended April 30, 2021.\nTotal revenue for the fiscal third quarter 2021 grew 24% year over year to $1.1 billion, compared with total revenue of $869.4 million for the fiscal third quarter 2020. GAAP net loss for the fiscal third quarter 2021 was $145.1 million, or $1.50 per diluted share, compared with GAAP net loss of $74.8 million, or $0.77 per diluted share, for the fiscal third quarter 2020.\nNon-GAAP net income for the fiscal third quarter 2021 was $139.5 million, or $1.38 per diluted share, compared with non-GAAP net income of $114.6 million, or $1.17 per diluted share, for the fiscal third quarter 2020. A reconciliation between GAAP and non-GAAP information is contained in the tables below.\n\"The work-from-home shift earlier in the year and recent cybersecurity issues have increased the focus on security. Coupled with good execution, this has driven great strength across our business, with Q3 billings growth accelerating to 27% year over year. In particular, we saw a number of customers make large commitments to Palo Alto Networks across our three major platforms,\" said Nikesh Arora, chairman and CEO of Palo Alto Networks. \"We are pleased to be raising our guidance for fiscal year 2021 as we see these trends continuing into our fiscal fourth quarter, bolstering our confidence in our pipeline.\"\nFinancial OutlookPalo Alto Networks provides guidance based on current market conditions and expectations.\nFor the fiscal fourth quarter 2021, the company expects:\nTotal billings in the range of $1.695 billion to $1.715 billion, representing year-over-year growth of between 22% and 23%. Total revenue in the range of $1.165 billion to $1.175 billion, representing year-over-year growth of between 23% and 24%. Diluted non-GAAP net income per share in the range of $1.42 to $1.44, using 101 million to 103 million shares.For the fiscal year 2021, the company is raising guidance and expects:\nTotal billings in the range of $5.28 billion to $5...