Recs.
Updated
SpecsUpdate
Pros
Pro Learned from troublesome root beginnings
PHP exploded in popularity when the Internet was new and with that came a lot of baggage. PHP has been evolving and now more frequently forcing breaking updates to finally see many of those old frameworks and libraries disappear from the ecosystem. v8 is fast and has more features than ever to make secure and fast cloud based development.
Pro One of the most common languages
According to the 2015 Stack Overflow Developer Survey (26,086 people surveyed), PHP was the 5th most popular/used language at 29.7%.
Cons
Con Poorly designed language
Despite its widespread use, PHP is generally looked upon poorly from a design point of view. The consistency of function names and function argument order, lazily and borderline non-functional implementation of object oriented programming, can only receive requests via POST methods, slow version adoption (the PHP you learn right now may not work on every webserver you'll work on), and a focus on "hacking things together" rather than "doing it right". These are all very common complaints when it comes to working with PHP. While not a bad language to learn, PHP is not at all a good language to learn first, as it will probably teach bad habits.
Con Hard to get it right
Many of the numerous samples, tutorials and code fragments out there contain serious security flaws or other bugs, like inproper input sanitisation. Sometimes the authors don't know any better, and sometimes they know but forget to mention that their code is not suited for productive systems. And even if they clearly state that their code needs additional checks and pieces not shown, people might skip over those last words, because it "works".