Palo Alto Networks Report Better-than-expected Quarterly Results

Palo Alto Networks on Thursday reported its second-quarter loss widened to $62.5 million, or 72 cents a share, from a loss of $43 million, or 53 cents a share, a year earlier. On an adjusted basis, the advanced-firewall company would have earned 40 cents a share. Revenue jumped 54% to $334.7 million. Analysts surveyed by FactSet had forecast earnings of 39 cents a share on revenue of $318 million. In the third quarter, Palo Alto Networks expects adjusted EPS of 41 cents to 42 cents and revenue in a range of $335 million to $339 million. Analysts are projecting earnings of 45 cents a share and revenue of $335 million. Shares of Palo Alto Network rose 9.7% before they were halted.