Palo Alto Networks (NASDAQ:PANW) announced on Wednesday that its fiscal first-quarter net income reached $350.7 million.
The company reported earnings of 99 cents per share, or $1.56 per share, after adjusting for one-time gains and expenses, surpassing analysts' expectations.
Wall Street had anticipated adjusted earnings of $1.48 per share, according to Zacks Investment Research.
Revenue for the quarter totaled $2.14 billion, also exceeding forecasts of $2.12 billion by analysts surveyed by Zacks.
Looking ahead, the company projects adjusted per-share earnings of $1.54 to $1.56 for the fiscal second quarter ending in January, alongside revenue expectations between $2.22 billion and $2.25 billion.
For the full fiscal year, Palo Alto forecasts earnings ranging from $6.26 to $6.39 per share, with anticipated revenue between $9.12 billion and $9.17 billion.