Palo Alto Eyes 15% Revenue Growth In Q3 Report

Palo Alto Networks, Inc. PANW is in the spotlight ahead of earnings Tuesday after the market closes. Here’s what you need to know.

What To Know: Analysts estimate earnings per share of 77 cents and revenue of $2.28 billion, according to data from Benzinga Pro.

In its last earnings report, the company projected revenue from $2.26 billion to $2.29 billion, representing a year-over-year growth between 14% and 15%.

Furthermore, the company anticipated Next-Generation Security annual reoccurring revenue from $5.03 billion to $5.08 billion. This would represent a year-over-year increase from 33% to 34%.

The cybersecurity firm also forecasted remaining performance obligations from $13.5 billion to $13.6 billion, which would mean year-over-year growth between 19% and 20%.

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PANW Price Action: At the time of writing, Palo Alto stock is trading 0.41% lower at $193.56, according to data from Benzinga Pro.

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