Palo Alto Networks, a cyber security solutions provider, has reported that its revenue grew 26 percent to $1.7 billion with net income of $84.2 million for its fiscal second quarter 2023, ended January 31, 2023.
“The performance of software-based and cloud-delivered portfolio validates the investments we have made over the last several years and has enabled us to raise our billings and NGS ARR guidance,” Nikesh Arora, chairman and CEO of Palo Alto Networks, said in its earnings report.
For the fiscal year 2022, Palo Alto Networks is raising guidance and expect: billings of $6.80-$6.85 billion, representing growth of 25-26 percent; revenue of $1.695-$1.725 billion, representing growth of 22-24 24 percent.
For the fiscal year 2023, Palo Alto Networks is updating guidance and expect billings of $9.1-$9.2 billion, representing growth of 22-23 percent and revenue of $6.85-$6.91 billion, representing growth of 25-26 percent.
Palo Alto Networks said it expects billings of $2.2-$2.25 billion, representing year-over-year growth of 22-25 percent for the fiscal third quarter 2023.
Palo Alto Networks expects revenue of $1.345-$1.365 billion, representing growth of between 25-27 percent for the fiscal third quarter 2023.
