(AOF) – Palo Alto Networks is expected to decline sharply due to disappointing billing prospects. In February, the network security specialist issued a warning on its revenues. In the third quarter, ending at the end of April, of fiscal 2024, the group reported net income of $278.8 million, or 79 cents per share, compared with a profit of $107.8 million, or 31 cents per share. action, a year earlier. Excluding one-off items, its earnings per share came to $1.32, beating consensus by 7 cents.
Turnover increased 15% to $1.98 billion while the market was targeting $1.97 billion.
In the fourth quarter, Palo Alto Networks is targeting billings of between $3.43 billion and $3.48 billion, representing growth of between 9% and 10%. Adjusted earnings per share, however, are expected between $1.40 and $1.42. The market forecasts $3.47 billion and $1.41, respectively.
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