Palo Alto Networks Stock Rises As Earnings, Outlook Top Estimates
Summary
Palo Alto Networks ( PANW ) late Thursday reported fiscal first-quarter adjusted earnings and revenue that topped expectations and forecast January-quarter sales above consensus estimates.XThe cybersecurity software maker said adjusted Q1 earnings were $1.17 a share, up 58% from a year ago, with revenue rising 31% to $656 million, topping consensus views.Analysts expected Palo Alto Networks earnings of $1.05 a share on sales of $632 million for the period ended Oct. 31.RedLock uses artificial intelligence tools to detect threats when companies shift business workloads to shared, public cloud service providers."We expect to deliver an integrated offering early next year that combines RedLocks technologies with our existing cloud security products to help our customers secure their mobile workforce, protect the public cloud and stop advanced threats," Arora said in a news release.