(AOF) – The Palo Alto title jumped more than 17% to 245.37 dollars thanks to the presentation Friday evening of profits and stronger prospects than anticipated. ” The results would have been considered good a few weeks ago, they were much better than feared after the date of the conference call (a Friday evening, editor’s note) on the results and the disappointing results of the peers lowered expectations substantially” prior to this release, says JPMorgan.
In the fourth quarter, ending July, of fiscal 2023, the network security specialist reported net income of $227.7 million, or 64 cents per share, compared to a profit of $3.3 million , or 1 cent per share, a year earlier. Excluding exceptional items, its earnings per share amounted to 1.44 dollars, exceeding the consensus by 15 cents. Revenue increased 26% to $2 billion.
These good results are accompanied by annual objectives that exceed expectations for the technology firm. It is targeting revenues of between 8.15 and 8.20 billion dollars, representing growth of between 18% and 19%. Wall Street is targeting $8.40 billion. Adjusted earnings per share are expected between 5.27 and 5.40 dollars while the market expects 4.98 dollars.
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