Why Shares of Palo Alto Networks Tumbled Today
Shares of Palo Alto Networks (NYSE: PANW) slumped on Tuesday after the cybersecurity company reported mixed quarterly results and reduced its full-year guidance. The stock was down about 15.8% at 12:05 p.m. EST.
Palo Alto reported fiscal second-quarter revenue of $816.7 million, up 15% year over year but $25.4 million below the average analyst estimate. Billings were up 17% to $998.9 million, while deferred revenue grew 27% to $3.2 billion.
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Source Fool.com
