Shares of Palo Alto Networks Inc. (PANW, Financial) jumped more than 5% after reporting fourth-quarter earnings per share of $1.28 on $658.1 million in revenue, reflecting 29.3% year-over-year growth. The company beat earnings estimates by 11 cents and revenue expectations by $25.05 million.
"Our revenue growth in the fourth quarter was solid across all regions, with particular strength in EMEA and APAC, each growing more than 40% year over year," Chief Financial Officer Kathy Bonanno said. "We delivered on the bottom line as well, generating record cash flow from operations and free cash flow of $252.5 million."
For the first quarter of 2019, the company expects total revenue between $625 million and $635 million, representing year-over-year growth of 25% to 27%. Diluted non-GAAP net income per share is projected to range from $1.04 to $1.06.
Shares of Broadcom Inc. (AVGO, Financial) advanced in Friday trading after reporting third-quarter earnings per share of $4.98 on $5.07 billion in revenue, reflecting 13.2% year-over-year growth. The company beat earnings estimates by 16 cents, but revenue was in line with expectations.
The gross margin was $2.619 billion, or 51.7% of net revenue, higher than $2.149 billion, or 48.2%, in the prior-year quarter. Operating income was $1.339 billion, or 26.4% of net revenue, higher than $648 million, or 14.5% of net revenue, in the same quarter last year.
The company repurchased 24 million shares for about $5.38 billion. Broadcom plans to return half of the prior fiscal year's free cash flow to shareholders via cash dividends.
Looking ahead to the third quarter, the company expects total revenues between $172 million and $175 million and a non-GAAP gross margin of 78% to 81%.
Shares of Marvell Technology Group Ltd. (MRVL, Financial) jumped more than 5% after reporting second-quarter earnings of 35 cents per share on $624 million in revenue. The company fell $61 million short of expectations, but earnings were in line.
Looking ahead to the third quarter, revenue is expected to be $825 million to $865 million. The GAAP gross margin is forecasted to be in the range of 44% to 45% and the non-GAAP gross margin is projected to be in between 64% and 65%.  Non-GAAP diluted earnings are expected to be between 30 cents and 34 cents per share.
Disclosure: The author holds no positions in any stocks mentioned.
