"Performance" Palo Alto Networks' revenue guidance for this quarter meets expectations, stock price drops 3% after hours
Cybersecurity provider Palo Alto Networks (PANW.US) announced that its first-quarter performance exceeded expectations and revealed the acquisition of cloud observability platform Chronosphere for $3.35 billion. The stock price fell 3% in after-hours trading.
The company stated that net profit for the last quarter decreased by approximately 5% year-on-year to $334 million, with adjusted earnings per share of $0.93, higher than the market expectation of $0.89; revenue grew by 16% year-on-year to $2.47 billion, also surpassing the expected $2.46 billion. The company expects second-quarter revenue to be in the range of $2.57 billion to $2.59 billion, with the median in line with market expectations
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