(Reuters) -Palo Alto Networks forecast fiscal 2025 revenue and profit above Wall Street estimates on Monday, a sign of growing demand for its comprehensive cybersecurity products as digital threat landscape evolves.
Shares of Santa Clara, California-based Palo Alto Networks rose about 4% in extended trading, as the company also announced an additional $500 million for share repurchases.
A surge in digital scams, online threats and high-profile cybersecurity incidents have triggered robust demand for companies such as Palo Alto offering integrated security products.
The results come at a time when analyst say the July 19 global IT outage, linked to CrowdStrike's software update, has laid bare the risks of dependence on single-vendor providing consolidated security solutions.
The analysts added that the outage could partially slowdown aggressive vendor consolidation.