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-- 869.680 Palo Alto Shares Slip After-Hours as Company's Outlook Fails to Wow Investors
$Palo Alto Networks (PANW.US)$ shares slipped in extended trading after the company failed to deliver an outlook that blew past analysts' estimates.
The company forecast second quarter adjusted earnings to reach $1.54 to $1.56 a share in its fiscal second quarter, the midpoint of which is just in line with the $1.55 adjusted earnings expected by analysts, estimates compiled by Bloomberg show. Revenue was seen reaching $2.22 billion to $2.25 billion, compared with the average estimate of $2.23 billion.
Shares slipped even after the company's fiscal first quarter results beat estimates and CEO Nikesh Arora touted expectations of a multiyear trend in the field of artificial intelligence. Neither did its announcement for a stock split fail to arrest the decline for the stock that's already jumped 33% this year.
"We see a growing market realization that platformization is the game changer that will solve security and enable better AI outcomes," Arora said in the company's earnings release. "I expect this will be a multiyear trend for which we are best positioned to deliver to our customers."
"We see a growing market realization that platformization is the game changer that will solve security and enable better AI outcomes," Arora said in the company's earnings release. "I expect this will be a multiyear trend for which we are best positioned to deliver to our customers."
The company said its board approved a two-for-one forward stock split of the company's outstanding shares. Each stockholder will receive an additional share for every share held as of Dec. 12. Trading on a split-adjusted basis will begin on Dec. 16, it said.
For the three months ended Oct. 31, the company reported adjusted EPS of $1.56, surpassing the $1.48 expected by analysts Bloomberg. Revenue reached $2.14, better than the $2.12 billion consensus.
Share your thoughts on Palo Alto Networks and what you think it's outlook is for the rest of the year in the comments section. And please let us know if you're bullish or bearish by voting below.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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Dan’l : These analysts’ so-called whisperings of not being overly impressed caused the same response to $NVIDIA (NVDA.US)$ which I saw as a five dollar per share discount… suggest those interested in $Palo Alto Networks (PANW.US)$ do the same ~;-)