Palo Alto Networks Tops Q3 Views

reported better-than-expected results for the fiscal third quarter on Wednesday. The Santa Clara, California-based company posted a quarterly net loss of $45.9 million, or $0.56 per share, versus a year-ago net loss of $146.6 million, or $1.96 per share. Its non-GAAP net income came in at $0.23 per share, versus net income of $0.11 per share. Its total revenue rose 55 percent year-over-year to $234.2 million from $150.7 million. However, analysts were expecting earnings of $0.20 per share on revenue of $223.22 million. The average estimate among 32 Estimize users was for earnings of $0.22 per share and revenue of $228.60 million. Billings increased 56 percent year-over-year to $302.2 million in the quarter. Deferred revenue rose 64 percent to $603.9 million. "We reported record revenue in the fiscal third quarter 2015 as we continue to expand market share with growth rates that significantly outpace the market. Our ongoing success is due to our natively integrated and highly automated enterprise security platform that delivers prevention capabilities at every step in the cyber-attack lifecycle," said Mark McLaughlin, president and chief executive officer of Palo Alto Networks. For the fiscal fourth quarter, the company expects adjusted earnings of $0.24 to $0.25 per share, on revenue of $252 million to $256 million. Analysts had projected earnings of $0.24 per share on revenue of $247.7 million. The company also announced the purchase of CirroSecure. Palo Alto Networks shares fell 0.72 percent to $159.50 in the after-hours trading session.