Palo Alto Networks Inc ( PANW ) reported financial results for its fiscal fourth quarter after the market close on Monday. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Palo Alto reported fourth-quarter revenue of $2.189 billion, beating the consensus estimate of $2.162 billion. The cybersecurity company reported quarterly earnings of $1.51 per share, beating analyst estimates of $1.41 per share.

Palo Alto has now exceeded analyst estimates on the top and bottom lines in four consecutive quarters, according to data from Benzinga Pro.

Total revenue was up 12% year-over-year. Remaining performance obligations grew 20% year-over-year to $12.7 billion. Next-generation security annual recurring revenue increased 43% year-over-year to $4.2 billion.

“We finished off the year with strong execution on our platformization strategy in Q4. As we look forward to fiscal year 2025 and beyond, we are focused on scaling our Next-Generation Security business through continued innovation and execution,” said Nikesh Arora, chairman and CEO of Palo Alto Networks ( PANW ).

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Palo Alto’s board authorized an additional $500 million for share repurchases, bringing the company’s remaining buyback authorization up to $1 billion. The buyback program is set to expire at the end of 2025.

Outlook: Palo Alto expects fiscal first-quarter revenue to be in the range of $2.1 billion to $2.13 billion versus estimates of $2.1 billion. The company expects first-quarter adjusted earnings to be between $1.47 and $1.49 per share versus estimates of $1.43 per share.

Palo Alto also introduced guidance for fiscal year 2025. The company expects full-year 2025 revenue to be between $9.1 billion and $9.15 billion versus estimates of $9.11 billion. The company anticipates full-year earnings between $6.18 and $6.31 per share versus estimates of $6.19 per share.

Management will hold a conference call at 4:30 p.m. E.T. to further discuss the company’s quarterly results.

PANW Price Action: Palo Alto shares were up 2.77% in after hours, trading at $343.36 at the time of publication Monday, according to Benzinga Pro.

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