Palo Alto Networks Inc (NASDAQ: PANW) came in ahead of Street estimates in its fiscal Q1 and issued slightly better-than-expected guidance for the full year as well on Thursday. Still, the cybersecurity stock opened in the red this morning as two underlying weaknesses in the company's earnings release eclipsed its strong headline number.
Palo Alto Networks' stock dropped after the bell even after the cybersecurity provider topped Wall fiscal first-quarter estimates. Palo Alto said it's buying cloud observability platform Chronosphere for a total value of $3.35 billion.
Palo Alto Networks Inc (NYSE:PANW, XETRA:5AP) shares dipped more than 4% afterhours as investors reacted with disappointment to the company's September quarter earnings and guidance, despite the cybersecurity firm topping Wall Street estimates for both revenue and profit. For fiscal Q1, Palo Alto reported revenue of $2.5 billion, up 16% year-over-year and ahead of estimates of $2.46 billion.
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