Palo Alto Networks (NASDAQ:PANW) shares gained more than 4% after-hours following the company’s reported Q3 earnings, with EPS of $1.10 coming in better than the consensus estimate of $0.93. Revenue increased 24% year-over-year to $1.7 billion, compared to the consensus estimate of $1.72B.
“We continued to demonstrate our commitment to profitable growth in Q3. As a result, we are raising our cash flow margin and operating margin guidance for FY'23 as we balance driving efficiency goals while investing for medium-term growth,” said CFO Dipak Golechha.
For Q4/23, the company expects EPS of $1.26-$1.30, compared to the consensus of $1.20, and revenue of $1.937-$1.967B, compared to the consensus of $1.95 billion. Total billings are anticipated in the range of $3.15-$3.20B, representing year-over-year growth of 17%-19%.
For the full year, the company anticipates EPS of $4.25-$4.29, compared to the consensus of $4.02, and revenue of $6.88-$6.91B, compared to the consensus of $6.89B. Total billings are expected in the range of $9.18-$9.23B, representing year-over-year growth of 23%-24%.