Palo Alto Networks raises FY22 revenue guidance

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 fiscal year 2022, driven by strength in both our product and Next-Generation Security businesses, giving us 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. 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

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