Palo Alto Networks Shares Fall After Earnings

Palo Alto Networks Inc. on Wednesday said it lost $45.9 million, or 56 cents a share, in the fiscal third quarter, compared with a net loss of $146.6 million, or $1.96 a share, a year ago. Revenue hit $234.2 million in the quarter, it said. Adjusted for one-time items, the network security company said it earned $20.5 million, or 23 cents a share, compared with $8.7 million, or 11 cents a share, a year ago. Analysts polled by FactSet had expected adjusted earnings of 20 cents a share on revenue of $223 million. Palo Alto Networks also said it acquired CirroSecure to expand its security platform. CirroSecure is expected to be available as a new subscription-based service in the second half of 2015, the company said. Shares of Palo Alto Networks fell 1% in after-hours trading after ending the regular session down 2%.