1 week ago
Palo Alto Networks, Inc. (NASDAQ:PANW) shares slipped in premarket trading on Wednesday as CEO Nikesh Arora pushed back against lackluster sentiment, saying the markets “have it wrong” in assessing the company’s outlook.
The cybersecurity firm’s mixed guidance reaction appeared to overshadow management’s optimism around recent acquisitions and growing AI-driven demand.
On Tuesday, the cybersecurity company lowered its full-year adjusted earnings guidance from a range of $3.80 to $3.90 per share to a range of $3.65 to $3.70 per share, versus estimates of $3.86 per share.
The company reported fiscal second-quarter revenue of $2.59 billion, beating analyst estimates of $2.58 billion. The cybersecurity company posted adjusted earnings of $1.03 per share for the quarter, beating analyst estimates of 94 cents per share.
Total revenue was up 15% year-over-year and remaining performance obligations grew 23% year-over-year to $16 billion. The company said next-generation security annual recurring ...
