Palo Alto Stock Rises After Strong Earnings and Solid Outlook
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Palo Alto Networks squelched fears over the pace of the cybersecurity market by beating forecasts for its fourth quarter ended July. After Monday’s market close, Palo Alto said that July quarter revenue was $2.2 billion, up 12% from the prior year. Cash earnings were $522 million, or $1.51 per share (excluding noncash charges), compared with $1.44 a share.