Why Palo Alto Networks Stock Is Moving Higher After Hours

Palo Alto Networks Inc (NASDAQ:PANW) shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected quarterly results and issued strong earnings guidance.

• Q3 Revenue: $1.72 billion beat estimates of $1.71 billion
• Q3 EPS: $1.10 beat estimates of 93 cents

Revenues were up 24% year-over-year, while bookings climbed 26%. 

"Our team again executed well in a market that continues to become more challenging," said Nikesh Arora, chairman and CEO of Palo Alto Networks. 

Outlook: Palo Alto sees fiscal fourth-quarter revenue in the range of $1.937 billion and $1.967 billion versus estimates of $1.95 billion. Full-year revenue is expected to be between $6.88 billion and $6.91 billion versus estimates of $6.89 billion.

The company expects fourth-quarter adjusted earnings to be between $1.26 and $1.30 per share versus estimates of $1.20 per share. Full-year earnings are expected to be in the range of $4.25 to $429 per share versus estimates of $4.02 per share.

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PANW Price Action: Palo Alto shares were up 4.29% after hours at $197.88 at the time of writing, per Benzinga Pro.

Photo: rupixen from Pixabay.