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Palo Alto beats This fall estimates with power in massive buyer transactions

Palo Alto Networks on Monday reported better-than-expected fourth quarter monetary outcomes, highlighting “notable power in massive buyer transactions.”

As many as 18 clients signed 8-figure transactions in This fall, the corporate stated.

Palo Alto Networks

Non-GAAP internet revenue for the fourth quarter was $161.9 million, or $1.60 per diluted share. Fourth quarter income grew 28% year-over-year to $1.2 billion. 

Analysts have been anticipating earnings of $1.43 per share on income of $1.17 billion.

For the complete fiscal yr 2021, income grew 25% to $4.three billion.

“Our robust This fall efficiency was the end result of executing on our technique all year long, together with product innovation, platform integration, enterprise mannequin transformation and investments in our go-to-market group,” chairman and CEO Nikesh Arora stated in a press release. “Particularly, we noticed notable power in massive buyer transactions with strategic commitments throughout our Strata, Prisma and Cortex platforms.”  

Palo Alto Networks

Fourth quarter billings grew 34% year-over-year to $1.9 billion. Fiscal yr 2021 billings grew 27% to $5.5 billion.

Deferred income grew 32% year-over-year to $5 billion, whereas remaining efficiency obligation (RPO) grew 36% to $5.9 billion. 

For Q1 2022, Palo Alto expects income within the vary of $1.19 billion to $1.21 billion. 

Analysts predict income of $1.15 billion. 

For the fiscal yr 2022, the corporate expects income within the vary of $5.275 billion to $5.325 billion.

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