PANW Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2023-10-31), PANW reported revenue of $1.9B, gross profit of $1.4B (74.8% gross margin), operating income of $215M, and net income of $194M (10.3% net margin). The flow of revenue into costs and profit is visualized below.
What changed
PANW was profitable; revenue fell 3.8% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | −3.8% | −14.7% | −1.3 pp |
Consensus estimate data is not available for this report.
PANW Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $1.9B | 100% |
| Cost of Revenue | −$473M | 25.2% |
| Gross Profit | $1.4B | 74.8% |
| Research & Development | −$410M | 21.8% |
| Selling, General & Administrative | −$781M | 41.6% |
| Operating Income | $215M | 11.5% |
| Interest Expense | −$3M | 0.2% |
| Other Income, net | $70M | 3.7% |
| Income Tax Expense | −$88M | 4.7% |
| Net Income | $194M | 10.3% |
Source: original SEC filing (filed 2023-11-15). Accession 0001327567-23-000030. Data normalized by EarningsFyi.