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Palo Alto Networks : reports 3Q loss

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05/26/2016 | 10:25pm CEST

SANTA CLARA, Calif. (AP) _ Palo Alto Networks Inc. (PANW) on Thursday reported a loss of $70.2 million in its fiscal third quarter.

The Santa Clara, California-based company said it had a loss of 80 cents per share. Earnings, adjusted for one-time gains and costs, came to 42 cents per share.

The results met Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share.

The security software maker posted revenue of $345.8 million in the period, beating Street forecasts. Seventeen analysts surveyed by Zacks expected $338.6 million.

For the current quarter ending in July, Palo Alto expects its per-share earnings to range from 48 cents to 50 cents.

The company said it expects revenue in the range of $386 million to $390 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $384 million.

Palo Alto shares have fallen 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $148.18, a decrease of nearly 10 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PANW at http://www.zacks.com/ap/PANW

Keywords: Palo Alto Networks, Earnings Report

Automated Insights, source Associated Press News

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