Palo Alto Networks, Inc. ( PANW ) reported its third-quarter financial results after the bell Monday. Here's a look at the details from the report.

The Details:

Palo Alto Networks ( PANW ) reported quarterly earnings of $1.32 per share which beat the analyst consensus estimate of $1.25 by 5.6%.

Quarterly sales clocked in at $1.985 billion which beat the analyst consensus estimate of $1.967 billion and represents a 15.33% increase over sales of $1.721 billion from the same period last year.

“We are pleased with the enthusiastic response to platformization from our customers in Q3. Platformization is a long-term strategy that addresses the increasing sophistication and volume of threats, and the need for AI-infused security outcomes,” said Nikesh Arora, chairman and CEO of Palo Alto Networks ( PANW ).

“We have remained disciplined in our execution while investing in go-to-market and innovation,” said Dipak Golechha, chief financial officer of Palo Alto Networks ( PANW ). “We delivered consistent, profitable growth yet again in Q3 and look forward to executing against our strategic goals and financial targets as we close out the year.”

Outlook: 

Palo Alto Networks ( PANW ) sees fourth-quarter adjusted earnings of between $1.40 and $1.42 per share, versus the $1.41 per share estimate, and total revenue in a range of $2.15 billion to $2.17 billion, versus the $2.16 billion analyst estimate. The company expects fourth-quarter total billings in the range of $3.43 billion to $3.48 billion, representing year-over-year growth of between 9% and 10%.

Palo Alto Networks ( PANW ) expects full-year earnings of between $5.56 and $5.58 per share, versus the $5.51estimate, and full-year total revenue in a range of $7.99 billion to $8.01 billion, versus the $7.98 billion consensus estimate. The company sees fiscal year 2024 total billings in the range of $10.13 billion to $10.18 billion, representing year-over-year growth of between 10% and 11%.

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PANW Price Action: According to Benzinga Pro, Palo Alto Networks ( PANW ) shares are down 8.88% after-hours at $295.01 at the time of publication Monday.