Palo Alto Networks Stock Leaps On Q4 Profit, Cybersecurity Outlook

Palo Alto Networks (PANW) shares rose Tuesday after the cloud-focused cybersecurity group’s stronger-than-expected fourth-quarter results, while forecasting solid near-term gains as major clients continue to spend on cloud transitions and IT infrastructure.

Palo Alto posted a 49.4% jump in non-GAAP earnings for the three months ended July, its fiscal fourth quarter, with net income of $2.39 per share on revenue of just over $1. 6 billion in demand for its cloud-centric security products amid a spate of hacking attacks on US businesses and government agencies and healthcare providers in the first half of the year.


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