Security

• 8 habits of highly secure remote workers
• How to find and remove spyware from your phone
• The best VPN services: How do the top 5 compare?
• How to find out if you are involved in a data breach -- and what to do next

Palo Alto Networks on Thursday published solid first-quarter financial results and raised its FY 2022 revenue guidance. 

Non-GAAP net income for the first quarter was$170.3 million, or$1.64 per diluted share. First-quarter revenue grew 32% year-over-year to$1.2 billion. 

Analysts were expecting earnings of$1.57 per share on revenue of$1.2 billion.

"Q1 was a strong start to the fiscal year 2022, driven by strength in both our product and Next-Generation Security businesses, giving us the confidence to raise our revenue and billings guidance for the year," chairman and CEO Nikesh Arora said in a statement. "We continue to see strong customer demand and have continued to release key innovations which give us confidence in the durable growth we presented at our September Analyst Day."   

First-quarter billings grew 28% year-over-year to$1.4 billion. The remaining performance obligation (RPO) grew 37% to$6 billion.

Palo Alto Networks

The company highlighted the performance of Primsa SASE, noting rapid adoption of the secure access service edge (SASE) service. Prisma SASE saw 100% year-over-year ARR growth. Meanwhile, more than 25% of new Prisma SASE customers are new to Palo Alto Networks over the last 12 months. The company now has 1,756 SASE customers, up 61% year-over-year.

In the area of cloud-native security, Palo Alto reported that it now has 1,676 Prisma Cloud customers up 26% year-over-year.

For Q2 2022, Palo Alto expects revenue in the range of$1.265 billion to$1.285 billion. 

Analysts are expecting revenue of$1.27 billion. 

For the full fiscal year 2022, the company expects total revenue in the range of$5.35 billion to$5.40 billion, representing year-over-year growth of between 26% and 27%. Last quarter, the company forecast FY2022 revenue in the range of$5.275 billion to$5.325 billion.

Tech Earnings

SMART Global fiscal Q2 results, outlook top expectationsAdobe shares sag as outlook misses expectationsMicron stock jumps as fiscal Q2 results, outlook top expectationsOracle shares rebound, fiscal Q4 view tops expectationsPagerDuty stock surges as fiscal Q4 revenue, forecast top expectationsDocuSign shares plunge, Q1 and year views miss expectationsCrowdstrike reports Q4 revenue of$431 million and$1.45 billion for full yearBroadcom shares jump as fiscal Q1 results, outlook top expectations

• SMART Global fiscal Q2 results, outlook top expectations
• Adobe shares sag as outlook misses expectations
• Micron stock jumps as fiscal Q2 results, outlook top expectations
• Oracle shares rebound, fiscal Q4 view tops expectations
• PagerDuty stock surges as fiscal Q4 revenue, forecast top expectations
• DocuSign shares plunge, Q1 and year views miss expectations
• Crowdstrike reports Q4 revenue of$431 million and$1.45 billion for full year
• Broadcom shares jump as fiscal Q1 results, outlook top expectations