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Palo Alto Networks (PANW) earnings Q3 2021 

Nikesh Arora, CEO of Palo Alto Networks and previously SoftBank Group Corp. President and COO, speaks throughout the SoftBank Academia Particular Lecture with Chairman and CEO Masayoshi Son in Tokyo on October 22, 2015.

KAZUHIRO NOGI | AFP | Getty Pictures

Palo Alto Networks shares rose as a lot as 6% in prolonged buying and selling on Thursday after the safety {hardware} and software program firm introduced fiscal second-quarter earnings that had been more healthy than analysts had anticipated.

This is how the corporate did:

  • Earnings: $1.38 per share, adjusted, vs. $1.28 per share as anticipated by analysts, in line with Refinitiv.
  • Income: $1.07 billion, vs. $1.06 billion as anticipated by analysts, in line with Refinitiv.

Income grew 24% 12 months over 12 months within the quarter, which ended on April 30, in contrast with 25% development within the earlier quarter, in line with a assertion.

CEO Nikesh Arora stated within the assertion that there is larger consideration on cybersecurity as a result of distant working turned fashionable throughout the pandemic, in addition to a spate of current cybersecurity points — presumably together with assaults on Microsoft‘s Trade Server software program, vulnerabilities in SolarWinds software program and the current ransomware assault towards Colonial Pipeline that shut down a key gas pipeline.

In the course of the quarter the corporate acquired Bridgecrew, a cloud safety firm, for $156 million.

With respect to steering, the corporate stated it expects adjusted earnings of $1.42 to $1.44 per share in its fiscal fourth quarter, with $1.165 billion to $1.175 billion in income. Analysts polled by Refinitiv had anticipated $1.42 in adjusted earnings per share and $1.16 billion in income.

However the after-hours transfer, shares of Palo Alto Networks had been down about 4% because the begin of the 12 months, in contrast with a acquire of roughly 11% for. theS&P 500 index over the identical interval.

Executives will focus on the outcomes with analysts on a convention name beginning at 5 p.m. Japanese time.

That is breaking information. Please verify again for updates.

WATCH: Palo Alto Networks CEO on what we all know in regards to the scope of the Microsoft hack

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