From NBC Universal:

Shares of cybersecurity company Palo Alto Networks took a 17% hit in extended trading after beating earnings expectations but lowering full-year revenue and billings guidance. The company reported a net income of $1.7 billion for the quarter, compared to $84 million for the same quarter in 2023. Guidance for upcoming quarters fell short of estimates, with new billings guidance representing a 10-11% growth, and revenue growth between 15-16%. CEO Nikesh Arora expressed plans to activate the company’s “AI leadership strategy” in response to the current AI frenzy in the cybersecurity and technology sectors.



Read more: Palo Alto Networks (PANW) earnings Q2 2024