Breaking News
Feb 21, 2024
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Palo Alto Networks dropped 23.8% to $279.01 after the cyber security company reported better-than-estimated fiscal second quarter revenue and earnings.
Total revenue increased to $1.97 billion from $1.65 billion, pre-tax income rose to $135.5 million from $84.4 million, and diluted earnings per share rose to $4.89 from 25 cents a year ago.
Net income rose to $1.74 billion from $84.4 million, including tax-benefit of $1.61 billion.
However, the company lowered its revenue outlook in the fiscal third quarter to an increase between 13% and 15% and total billing growth between 2% and 4%.
The company also lowered its full-year 2024 revenue outlook to between 15% and 16%, down from the previous estimate of between 18% and 19%.
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