By Connor Hart
Palo Alto Networks' first-quarter results topped Wall Street views, but the cybersecurity company's full-year guidance failed to wow investors. The company raised its full-year revenue outlook to between $9.12 billion and $9.17 billion, bracketing the $9.13 billion that analysts on FactSet expect. Its full-year guidance was expected to be a key focus as it released results, according to Wedbush analysts, who said investors are eyeing its pipeline of deals with customers looking to consolidate their cybersecurity vendors. Shares fall 5.2%, to $372.50, in after-hours trading.
Snowflake reported third-quarter results that flew past Wall Street's estimates. The software company posted adjusted earnings of 20 cents a share on revenue of $942.1 million. Analysts surveyed by FactSet were expecting earnings of 15 cents a share on revenue of $899 million. The company's top line was boosted by product revenue, derived from the consumption of compute, storage and data transfer resources by Snowflake customers, which was up 29% from last year. Shares jump 19%, to $153.55, in postmarket trading.
Dream Finders Homes was selected to join the S&P SmallCap 600. The homebuilder will join the index Nov. 25, replacing Haynes International, an alloy producer being sold to North American Stainless. Last month, Dream Finders said that third-quarter revenue rose to $1.01 billion from $895.8 million. Shares rise 9.9%, to $30.68, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 20, 2024 18:56 ET (23:56 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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