SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Palo Alto Networks Inc. (PANW) on Tuesday reported a loss of $177 million in its fiscal third quarter.
The Santa Clara, California-based company said it had a loss of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The security software maker posted revenue of $3 billion in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $2.94 billion.
For the current quarter ending in July, Palo Alto expects its per-share earnings to range from 96 cents to 98 cents.
The company said it expects revenue in the range of $3.35 billion to $3.36 billion for the fiscal fourth quarter.
Palo Alto expects full-year earnings in the range of $3.77 to $3.79 per share, with revenue ranging from $11.42 billion to $11.43 billion.
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