By Will Feuer Palo Alto Networks posted higher earnings and revenue for its fiscal fourth quarter as companies continued to spend on cybersecurity, despite a...
Palo Alto Networks posted higher earnings and revenue for its fiscal fourth quarter as companies continued to spend on cybersecurity, despite a broader softening in spending on enterprise technology.
The Santa Clara, Calif.-based cybersecurity provider posted a profit of $227.7 million, or 64 cents a share, for the three-months ended July 31, compared with earnings of $3.3 million, or 1 cent a share, in the same period last year. Adjusted earnings came to $1.44 a share, topping the $1.29 a share that analysts surveyed by FactSet expected.
Revenue rose about 26% to $1.95 billion, below the $1.96 billion expected by analysts, according to FactSet. Billings grew 18% to $3.16 billion
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