Palo Alto Networks, Inc. announced its financial results for the fourth quarter and fiscal year ended July 31, 2024, on August 19, 2024. The company reported a 12% year-over-year increase in fiscal fourth-quarter revenue to $2.2 billion and a 16% increase in fiscal year 2024 revenue to $8.0 billion. Next-Generation Security Annual Recurring Revenue (ARR) grew by 43% to $4.2 billion, and the remaining performance obligation increased by 20% to $12.7 billion. GAAP net income for the quarter was $357.7 million, or $1.01 per diluted share, up from $227.7 million, or $0.64 per diluted share, in the same quarter of the previous year. Non-GAAP net income for the quarter was $522.2 million, or $1.51 per diluted share, compared to $482.5 million, or $1.44 per diluted share, in the prior year. The Board of Directors approved an...Show More

Palo Alto Networks, Inc. announced its financial results for the fourth quarter and fiscal year ended July 31, 2024, on August 19, 2024. The company reported a 12% year-over-year increase in fiscal fourth-quarter revenue to $2.2 billion and a 16% increase in fiscal year 2024 revenue to $8.0 billion. Next-Generation Security Annual Recurring Revenue (ARR) grew by 43% to $4.2 billion, and the remaining performance obligation increased by 20% to $12.7 billion. GAAP net income for the quarter was $357.7 million, or $1.01 per diluted share, up from $227.7 million, or $0.64 per diluted share, in the same quarter of the previous year. Non-GAAP net income for the quarter was $522.2 million, or $1.51 per diluted share, compared to $482.5 million, or $1.44 per diluted share, in the prior year. The Board of Directors approved an additional $500 million stock repurchase, extending the authorization period until December 31, 2025. The company also provided guidance for the fiscal first quarter 2025, with total revenue expected to be between $2.10 billion and $2.13 billion, and for the fiscal year 2025, with total revenue expected to be between $9.10 billion and $9.15 billion. The financial outlook includes the anticipated impact of the acquisition of IBM’s QRadar SaaS assets.