On Monday, Palo Alto Networks (NASDAQ:PANW) shares plunged upon its fiscal third quarter report that failed to impress due to a conservative guidance. Last week, Palo Alto Networks revealed it is buying cloud security software assets from International Business Machines Corporation (NYSE:IBM) via a joint press release, also suggesting Palo Alto is in need of a power boost.
Fiscal Third Quarter Highlights
For the quarter ended on April 30th, Palo Alto reported that revenue grew 15% YoY to $1.98 billion. Net income amounted to $278.8 million, or 79 cents a share, while adjusted earnings amounted to $1.32 per share, surpassing FactSet consensus of $1.25 a...
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