Summary by Futu AI
On November 20, 2024, Palo Alto Networks, Inc. released its financial results for the first quarter of fiscal year 2025, which ended on October 31, 2024. The company reported a 14% year-over-year increase in total revenue, reaching $2.1 billion, with GAAP net income rising to $350.7 million, or $0.99 per diluted share. This compares to a GAAP net income of $194.2 million, or $0.56 per diluted share, in the same quarter of the previous fiscal year. Non-GAAP net income for the quarter was $544.9 million, or $1.56 per diluted share, up from $466.3 million, or $1.38 per diluted share, year over year. Additionally, the company announced a two-for-one stock split, with each shareholder of record on December 12, 2024, to receive one additional share for every share held after the close of trading on December 13, 2024. Trading on a split-adjusted basis is expected to begin on December 16, 2024. The company also provided guidance for the fiscal second quarter and full year of 2025, with expectations of continued growth in revenue and non-GAAP EPS.
