Palo Alto Networks Q3 sales, outlook miss targets

Palo Alto Networks, a network security company, delivered a mixed fiscal third quarter and cut its sales outlook for the fourth quarter.

The company reported a fiscal third quarter net loss of $7.3 million, or 10 cents a share, on revenue of $101.3 million, up 54 percent from a year ago. Non-GAAP earnings were 6 cents a share.

Wall Street was looking for earnings of 5 cents a share on revenue of $103.46 million. As for the fourth quarter, Palo Alto said that it will report revenue between $106 million and $110 million. Non-GAAP earnings will be about 6 cents a share. That outlook was below the earnings of 7 cents a share on sales of $113.7 million expected by Wall Street.