Palo Alto Networks, Inc. (NYSE:PANW) Q1 2019 Earnings Conference Call Transcript

Nov 29, 2018 • 04:30 am ET


Palo Alto Networks, Inc. (NYSE:PANW) Q1 2019 Earnings Conference Call Transcript


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Good day. And welcome to the Palo Alto Networks Fiscal First Quarter 2019 Earning Conference Call. Today's conference is being recorded.

At this time, I'd now like to turn the conference to Amber Ossman, Director of IR. Please go ahead, ma'am.

Amber Ossman

Good afternoon. And thank you for joining us on today's conference call to discuss Palo Alto Networks' fiscal first quarter 2019 financial results. This call is being broadcast live over the web and can be accessed on the Investors section of our Website at

With me on today's call are Nikesh Arora, our Chairman and CEO; Kathy Bonanno, our CFO; Lee Klarich, our CCO; and Dave Peranich, our EVP of Worldwide Sales. This afternoon, we issued a press release announcing our results for the fiscal first quarter ended October 31st, 2018. If you would like a copy of the release, you can access it online on our website.

(Forward-Looking Cautionary Statement)

We'd also like to inform you that we will be participating in the 2018 Wells Fargo Tech Summit in Park City, Utah on Tuesday December 4th and the Barclays Global Technology Media and Telecom Conference in San Francisco on Wednesday, December 5th. Lastly, once we have completed our formal remarks, we will be posting them to our Investor Relations website under Quarterly Results.

With that, I'll turn the call over to Nikesh.

Nikesh Arora

Thank you, Amber. Hello everyone and thank you everyone for joining us this afternoon for our fiscal first quarter 2019 results. As you know, it's been a busy few months for me at Palo Alto Networks and I'm delighted to report that we had another outstanding quarter and once again, we have been able to grow our top line significantly faster than the market.

I'm also happy to say that my cyber security education is progressing nicely as I continue to meet more customers, partners, and employees. During this quarter, we held our first ever European Ignite, our user event in Amsterdam and our second Annual Federal Ignite event in Washington, D.C. At these events for our customers and partners, we consistently heard from multinationals to governments, all the challenges that are associated with protecting data in a digital world. Mobility, the movement of data to the cloud, data analytics and machine learning are some of the trends that we believe are forcing companies to re-evaluate the security posture in a more comprehensive manner looking for high levels of integration and automation. In this way, we believe we are uniquely positioned to support our customers across all these three events; one, securing the enterprise; two, enabling them on their journey to the cloud; and three, helping them with their desired digitally advanced AI and ML across their enterprise.

So let's discuss some current examples of how we're solving customer problems and what we have in store. Service provider is a segment where we have traditionally done not done as well as we would like. We're about to change that. We're excited to announce a new product