Palo Alto Networks · Q2 2020 earnings

Briefing

Palo Alto Networks' fiscal second quarter revenue grew, but GAAP net loss increased compared to the previous year.

Palo Alto Networks reported a 15% year-over-year increase in revenue for the fiscal second quarter of 2020, reaching $816.7 million. However, the company experienced a GAAP net loss of $73.7 million, compared to a net loss of $2.6 million in the same quarter of the previous year. Non-GAAP net income was $120.3 million, down from $147.0 million year-over-year. The company announced a proposed $1 billion accelerated share repurchase transaction.

• Fiscal second quarter revenue increased 15% year-over-year to $816.7 million.
• Billings grew 17% year-over-year to $998.9 million.
• Deferred revenue increased 27% year-over-year to $3.2 billion.
• Announced a proposed $1 billion accelerated share repurchase transaction.

Headline financials

Revenue & EPS history

Palo Alto Networks expects revenue between $835 to $850 million, billings between $980 million and $1.000 billion, and diluted non-GAAP net income per share between $0.96 and $0.98 for the fiscal third quarter 2020. For the full fiscal year 2020, they expect revenue between $3.350 to $3.390 billion, billings between $4.075 to $4.125 billion, and diluted non-GAAP net income per share between $4.55 and $4.65.