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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Palo Alto Networks Inc | NASDAQ:PANW | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.80 | 0.61% | 297.47 | 297.12 | 297.47 | 300.9659 | 297.00 | 298.47 | 2,139,053 | 00:59:59 |
From Nov 2023 to May 2024
By Paul Ziobro
Palo Alto Networks posted a 20% increase in fiscal first-quarter revenue as demand for cybersecurity products remains strong.
The Santa Clara, Calif.-based cybersecurity company on Wednesday reported a profit of $194.2 million, or 56 cents a share, for the quarter ended Sept. 30, compared with a profit of $20 million, or 6 cents a share, in the same quarter a year ago.
Adjusted earnings came in at $1.38 a share. Analysts recently polled by FactSet expected $1.16.
Revenue rose 20% to $1.88 billion, topping the $1.84 billion expected by analysts.
"An unprecedented level of attacks is fueling strong demand in the cybersecurity market," Chief Executive Nikesh Arora said.
Billings rose to $2.02 billion from $1.75 billion. Palo Alto Networks had forecast billings between $2.05 billion and $2.08 billion.
Chief Financial Officer Dipak Golechha said that billings were impacted by the cost of money.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
November 15, 2023 16:36 ET (21:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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