BUZZ-Palo Alto falls after second-quarter results

Reuters
02-15
BUZZ-Palo Alto falls after second-quarter results

** Shares of cybersecurity company Palo Alto Networks PANW.O fall 5.1% to $191.54

** The company on Thursday raised it fiscal 2025 revenue forecast to between $9.14 billion and $9.19 billion, up from its prior projection of between $9.12 billion and $9.17 billion vs analysts' expectation of $9.15 billion — LSEG

** "The company beat the revenue consensus of $2.24B by $17M but increased its annual revenue guidance range by only $20M (and perhaps some investors wanted more here)," brokerage FBN says

** Rate of returns from the next-generation security system, which protects public and private clouds, has not increased year over year for two quarters in a row, FBN adds

** PANW sees third-quarter revenue between $2.26 billion and $2.29 billion, vs analysts' estimate of $2.27 billion

** Revenue for the second quarter grew 14% to $2.26 billion, slightly above estimates of $2.24 billion

** In 2024, the stock rose 23.4%

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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