Formulir Kontak

Nama

Email *

Pesan *

Cari Blog Ini

Palo Alto Networks Earnings Call Transcript Q2 2024

Palo Alto Networks Earnings Call Transcript Q2 2024

February 20, 2024, 4:30 PM

Company Participants

  • Nikesh Arora - Chairman and CEO
  • Dipak Golechha - Chief Financial Officer

Introduction

Operator

Good afternoon. My name is James, and I will be your conference operator today. At this time, I would like to welcome everyone to the Palo Alto Networks Fiscal Third Quarter 2023 Earnings Conference Call. Today's call is being recorded, and a replay will be available shortly after the call. (Operator Instructions)

Q2 2024 Earnings Results

Nikesh Arora

Thank you, operator. Good afternoon, everyone, and welcome to the Palo Alto Networks fiscal third quarter 2023 earnings conference call. I'm Nikesh Arora, Chairman and CEO, and I'm joined today by Dipak Golechha, our CFO.

Before we dive into our results, I want to take a moment to acknowledge the tremendous work of our teams around the world. Their dedication and commitment have been instrumental in driving our continued success.

Now, let's go over our financial results. Total revenue for the quarter was $1.7 billion, representing a 26% year-over-year growth. Our billings were $2.1 billion, an increase of 29% year-over-year. Non-GAAP net income was $478 million, reflecting a 30% year-over-year growth, resulting in non-GAAP earnings per share of $2.15, an increase of 28%.

Product Revenue

Turning to our product revenue, it was $905 million, a year-over-year increase of 28%. This growth was driven by strong demand for our next-generation firewalls and Prisma Cloud, our cloud security platform.

Service Revenue

Our service revenue was $795 million, an increase of 23% year-over-year. This was primarily driven by the growth of our subscription-based services, managed security services, and support services.

Key Growth Drivers

Dipak Golechha

Let me now highlight some of the key growth drivers for the quarter.

Cloud Security

  • Continued strong adoption of Prisma Cloud, contributing significantly to our growth.

Firewall

  • Continued demand for our next-generation firewalls with enhanced security features.

Secure Access Service Edge (SASE)

  • Growing market for SASE solutions, with Prisma Access continuing to gain traction.

Strategic Priorities

Nikesh Arora

Now, let's discuss our strategic priorities.

First, we will continue to invest in innovation and drive the future of cybersecurity. We are committed to providing our customers with the best possible protection against the evolving threat landscape.

Second, we will continue to expand our ecosystem and partner with leading technology companies to deliver comprehensive security solutions to our customers.

Finally, we will continue to execute our disciplined financial management strategy to drive long-term profitability.

Conclusion

In closing, we are pleased with our strong performance in the third quarter. We believe that our focus on innovation, cloud security, and our commitment to customer success will enable us to continue to deliver value to our shareholders.

Thank you all for joining us today. We are now happy to take your questions.


Komentar