cybersecurity products as digital threats rise. Shares of Palo Alto Networks rose about 4% in extended trading. The company also announced an extra $500 million for share reclaims.
Palo Alto News says Q4 2024 grew 12% year-over-year to $2.2 billion. The growth is visible compared to the fiscal fourth quarter of 2023, where the revenue was $2.0 billion.
Palo Alto Network is an American multinational cybersecurity company based in Santa Clara, California. The essence product is a platform with advanced firewalls and cloud-based, extending them to other cybersecurity solutions.
Palo Alto News reported that the CEO, Nikesh Arora said `We finished off the year with strong execution on our platformization strategy in Q4,` `As we look forward to fiscal year 2025 and beyond, we are focused on scaling our Next-Generation Security business through continued innovation and execution.`
A rise in digital scams and online threats has spiked demands for companies like Palo Alto to provide complete cybersecurity products. High-profile cyberattacks have also played a role. Analysts said the July 19 outage, related to the Crowdstrike update, has exposed risks of dependence on a single vendor.
The Palo Alto cybersecurity solutions include the suite Prisma and AI-powered Cortex portfolio that help prevent and detect complex cybersecurity attacks on the endpoint. Palo Alto expects their annual income to be between $9.10 billion and $9.15 billion. The analyst's average estimate is $9.11 billion.
Palo Alto anticipates their annual adjusted profit per share to be $6.18 to $6.31, compared with estimates of $6.19 per share. According to Palo Alto News, Q1 2025 income of $2.10 billion to $2.13 billion, showing year-over-year growth of 12% -13%. Also, they expect a diluted non-GAAP net revenue per share between $1.47 to $1.49. This revenue represents a growth between 7% and 8%.
Also, the cybersecurity solutions firm expects a total income between $9.10 billion to $9.15 billion. This income represents year-over-year growth of between 13% and 14%. Palo Alto hosted a webcast for analysts and investors. They discussed the fiscal Q4 and year 2024 results.
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