Palo Alto Networks Beats Q3 on $3.00 Billion Revenue, Lifts Outlook as AI Threats Fuel Demand
Updated
Updated · CNBC · Jun 2
Palo Alto Networks Beats Q3 on $3.00 Billion Revenue, Lifts Outlook as AI Threats Fuel Demand
2 articles · Updated · CNBC · Jun 2
$3.00 billion in fiscal third-quarter revenue and 85 cents adjusted EPS topped LSEG estimates of $2.94 billion and 80 cents, sending Palo Alto shares up 10%.
Revenue rose 31% from a year earlier, including $388 million from the CyberArk and Chronosphere acquisitions, as companies spent more on advanced cyber defenses against AI-enabled threats.
Q4 revenue guidance of $3.35 billion to $3.36 billion beat the $3.28 billion consensus, while full-year revenue guidance was raised to $11.42 billion to $11.43 billion.
The results mark a rebound from February's disappointing outlook, though Palo Alto posted a net loss of $177 million versus net income of $262 million a year earlier.
The report extends a sharp rally in cybersecurity stocks tied to AI risk, with Palo Alto up more than 60% this year and participating in Anthropic's testing of the Mythos model's security implications.