Summary by Moomoo AI
Palo Alto Networks, a leading cybersecurity firm, reported a robust financial performance for the second quarter of fiscal 2024, with total revenue reaching $2.0 billion, marking a 19.3% increase from the $1.7 billion reported in the same quarter of the previous year. The company's product revenue grew by 10.7% year-over-year to $390.7 million, while subscription and support revenue saw a significant 21.7% increase to $1.6 billion. Operating income for the quarter was $53.6 million, up from $39.9 million in the prior year, and the operating margin slightly improved to 2.7% from 2.4%. Other income, net, which includes interest income and foreign currency exchange gains, totaled $84.7 million, a substantial increase from the $51.4 million reported in the previous year. Palo Alto Networks continues to innovate and expand its cybersecurity solutions, focusing...Show More