Palo Alto Networks tops earnings as AI fuels cybersecurity urgency
Key points
- Palo Alto Networks surpassed Wall Street's fiscal third-quarter results as artificial intelligence threats drive demand for sophisticated cybersecurity tools.
- Shares rose as much as 12% in after-hours trading, but later pulled back near the flatline.
- Here's how the company did versus LSEG estimates Earnings per share: 85 cents adjusted vs. 80 cents expected 85 cents adjusted vs. 80 cents expected Revenue: $3.00 billion vs. $2.94 billion expected Revenue grew 31% from a year ago, including $388 million from its recent CyberArk and Chronosphere acquisitions, the cybersecurity company said.
- The company reported a net loss of $177 million, a loss of 22 cents per share, down from net income of $262 million, or 37 cents per share, a year ago.
- The beat comes on lowered expectations, after the company gave disappointing guidance in February that fell short of analyst estimates.
Quick Summary
Palo Alto Networks surpassed Wall Street's fiscal third-quarter results as artificial intelligence threats drive demand for sophisticated cybersecurity tools. Shares rose as much as 12%
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Palo Alto Networks tops earnings as AI fuels cybersecurity u.
Key Takeaways
- Palo Alto Networks surpassed Wall Street's fiscal third-quarter results as artificial intelligence threats drive demand for sophisticated cybersecurity tools.
- Shares rose as much as 12% in after-hours trading, but later pulled back near the flatline.
- Here's how the company did versus LSEG estimates Earnings per share: 85 cents adjusted vs.
- 80 cents expected 85 cents adjusted vs.
- 80 cents expected Revenue: $3.00 billion vs.
📌 Source: CNBC
The BriefWire