Palo Alto Networks (NASDAQ: PANW) recently made headlines as the latest tech company to announce a stock split. With shares trading at over $550 apiece, it's not accessible enough for employees and other investor groups. That's leading the cybersecurity company to enact a 3-for-1 split, bringing the share price below $200 apiece, a more affordable number for investors with limited financial resources.
However, with all eyes on the stock split , many investors completely overlooked that Palo Alto Networks also reported its fiscal fourth-quarter results. That caused them to miss some pretty impressive numbers, led by its strong adjusted free cash flow. Here's a closer look at why it's more important than the company's upcoming stock split .
Palo Alto Networks posted strong fiscal fourth-quarter results. Revenue surged 27% to $1.55 billion, coming in toward the high end of its target range. Meanwhile, non-GAAP income improved from $161.9 million, or $1.60 per share, to $254.1 million, or $2.39 per share, which exceeded the high end of its $2.26 to $2.29 per share guidance range.
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Forget the Palo Alto Networks Stock Split. Focus On This More Crucial Metric Instead