Palo Alto Networks, Inc. (PANW) stock surged 6.54% in the after-market trading session at the price of $532.00 after it published financial results for the first quarter of fiscal 2022.
Palo Alto Networks is a global leader in cybersecurity that aims to provide digital protection. It shapes the cloud-centric future with technology that transforms the way individuals and companies operate.
PANW First Quarter Fiscal 2022 Earnings Report
On 18th November 2021, PANW published its financial results for the first quarter of fiscal 2022 that ended 31st October 2021 and provided a future outlook.
Financial Summary
For the first quarter of fiscal 2022, total revenue increased 32% to $1.2 billion. PANW reported revenue of $946.0 million for the first fiscal quarter of 2021. For the first fiscal quarter ended 31st October 2021, net loss was $103.6 million, or per diluted share of $1.06. GAAP net loss totaled $92.2 million, or per diluted share of $0.97, for the first fiscal quarter of 2021.
PANW Financial Outlook
For the second quarter of fiscal 2022, PANW anticipates total billings to range from $1.51 billion to $1.53 billion. It represents a growth of 24% to 26% compared to the second quarter of fiscal 2021. Total revenue has expected to range from $1.265 billion to $1.285 billion for the second quarter of fiscal 2022. It indicates a rise of 24% to 26% from the second quarter of fiscal 2021.
For the fiscal year 2022, PANW expects total billings of $6.675 billion to $6.725 billion. It represents a growth of 22% to 23% from fiscal 2021. Total revenue is estimated to range from $5.35 billion to $5.40 billion. It represents an increase of 26% to 27% from fiscal 2021. The company anticipates an adjusted free cash flow margin of 32% to 33% for the fiscal year 2022.
Management Comments
Chief executive officer of PANW, Nikesh Arora, remarked that their fiscal quarter depicts a great start to fiscal 2022. High growth during the quarter resulted from their Next-Generation Security businesses. It has given them the confidence to raise their revenue and billings guidance for fiscal 2020. The company continues to observe solid customer demand, he added.
