Palo Alto Networks Non-GAAP EPS of $1.38 beats by $0.22, revenue of $1.9B beats by $60M (NASDAQ:PANW)

For the fiscal second quarter 2024, we expect:

• Total billings in the range of $2.335 billion to $2.385 billion, representing year-over-year growth of between 15% and 18%.
• Total revenue in the range of $1.955 billion to $1.985 billion, vs. consensus of $1.97B, representing year-over-year growth of between 18% and 20%.
• Diluted non-GAAP net income per share in the range of $1.29 to $1.31, vs. consensus of $1.25, using 339 million to 342 million shares outstanding.

For the fiscal year 2024, we expect:

• Total billings in the range of $10.7 billion to $10.8 billion, representing year-over-year growth of between 16% and 17%.
• Total revenue in the range of $8.15 billion to $8.20 billion, vs. consensus of $8.19B, representing year-over-year growth of between 18% and 19%.
• Non-GAAP operating margin in the range of 26% to 26.5%.
• Diluted non-GAAP net income per share in the range of $5.40 to $5.53, vs. consensus of $5.34, using 338 million to 343 million shares outstanding.
• Adjusted free cash flow margin in the range of 37% to 38%.