By Davit Kirakosyan

Palo Alto Networks (NASDAQ:) rose more than 11% after-hours following the company’s , with EPS of $1.79 coming in better than the street estimate of $1.68. Year-over-year revenue grew by 29% to $1.4billion, surpassing the Street estimate at $1.36billion. Qu3 billings rose by 40%, to $1.8billion.

Palo Alto Networks’ chairman and CEO, Nikesh Arora said that Q3 saw strong top line growth. This is testament to the team’s consistent execution in capitalizing upon strong cybersecurity demand trends. On the back of the strong performance across our portfolio we have raised our guidance for 2018 across revenue, billings as well as earnings per share.

The consensus was $2.22. Q4/22 revenue is expected to be $1.53-1.55 Billion.

The company anticipates that total revenue will be $5.481 to $5.5501 billion, and diluted non GAAP EPS at $7.43-7.46 for the 2022 year. This compares with the consensus estimates of $5.46 billion, and $7.29 respectively.

Palo Alto Networks’ shares fell 22% in the year to date.