Palo Alto Networks Surge 10% On Earnings Beat, Outlook

By Wallace Witkowski Markets MarketWatch Pulse

Palo Alto Networks Inc. shares rallied in the extended session Wednesday after the computer security company's quarterly results and outlook topped Wall Street estimates. Palo Alto Networks shares surged 10% to $130.80 after hours on heavy volume. The company reported adjusted fiscal third-quarter earnings of 61 cents a share on revenue of $431.8 million. Analysts surveyed by FactSet had forecast earnings of 55 cents a share on revenue of $412.1 million. For the fourth quarter, Palo Alto Networks forecast adjusted earnings of 78 cents to 80 cents a share on revenue of $481 million to $491 million, while analysts had estimated 74 cents a share on revenue of $485.2 million.

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