Palo Alto(US:PANW) Prnewswireยท2024-08-19 20:05Financial Performance - Fiscal fourth quarter revenue increased by 12% year over year to $2.2 billion, compared to $2.0 billion in the same quarter of the previous year [1] - Fiscal year 2024 revenue grew by 16% year over year to $8.0 billion, up from $6.9 billion in fiscal year 2023 [1] - GAAP net income for the fiscal fourth quarter 2024 was $357.7 million, or $1.01 per diluted share, compared to $227.7 million, or $0.64 per diluted share, in the same quarter of the previous year [1] - Non-GAAP net income for the fiscal fourth quarter 2024 was $522.2 million, or $1.51 per diluted share, compared to $482.5 million, or $1.44 per diluted share, in the same quarter of the previous year [2] Key Metrics - Next-Generation Security Annual Recurring Revenue (ARR) grew by 43% year over year to $4.2 billion [1] - Remaining performance obligation increased by 20% year over year to $12.7 billion [1] - Non-GAAP operating margins increased by more than 300 basis points for the year, indicating strong cash generation [2] Financial Outlook - For fiscal first quarter 2025, total revenue is expected to be in the range of $2.10 billion to $2.13 billion, representing year-over-year growth of 12% to 13% [3] - For fiscal year 2025, total revenue is projected to be between $9.10 billion and $9.15 billion, indicating year-over-year growth of 13% to 14% [3] - Non-GAAP operating margin is expected to be in the range of 27.5% to 28.0% for fiscal year 2025 [3] Share Repurchase Program - The board of directors authorized an additional $500 million for share repurchases, increasing the total remaining authorization for future share repurchases to $1 billion, expiring December 31, 2025 [4]