News Formal

Palo Alto Networks shares rise more than 14% after earnings report

  • 📰 CNBC
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The cybersecurity vendor's share price jumped after investors found little to be concerned about in the after-the-bell Friday report.

The company reported adjusted quarterly earnings per share of $1.44 versus a Refinitiv analyst consensus of $1.28 per share. While Palo Alto missed consensus estimates for revenue, which came in at $1.95 billion versus $1.96 billion expected for the quarter ended July 31, the company said that revenue increased 26% compared with the year-ago quarter.

The premarket rally means that Palo Alto's shares have largely recovered from the plunge. Palo Alto CEO Nikesh Arora described the pre-earnings concern as making for "some very interesting reading" in analyst reports. "Our call for a possible transition away from hardware was unnecessary as the company put up impressive F4Q results and multi-year guidance without the need for any unusual theatrics; no management change, no M&A, no strategic pivots, and importantly no guide down on growth," Zelnick wrote in a Sunday note to clients.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Palo Alto Networks CEO addresses Friday earnings experiment: 'Lesson learnt'After spooking Wall Street with its plans to report earnings after Friday's close, Palo Alto Networks' mysterious move turned out to be much ado about nothing.
Source: MarketWatch - 🏆 3. / 97 Read more »

Palo Alto Networks shares surge after earnings, Napco Security tumbles and more stocks on the movePalo Alto Networks, Napco Security, Tesla and Jet.AI were among the biggest moving stocks ahead of Monday's open.
Source: MarketWatch - 🏆 3. / 97 Read more »

Palo Alto Networks shares surge after earnings, Tesla climbs and more stocks on the movePalo Alto Networks, Napco Security, Tesla and Jet.AI were among the biggest moving stocks ahead of Monday's open.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest premarket moves: Palo Alto Networks, Earthstone Energy, Nvidia, VMware and moreThese are the stocks posting the largest moves in the premarket.
Source: nbcchicago - 🏆 545. / 51 Read more »

Palo Alto Networks shares rise more than 12% after earnings reportThe cybersecurity vendor's share price jumped after investors found little to be concerned about in the after-the-bell Friday report.
Source: CNBC - 🏆 12. / 72 Read more »