Palo Alto Networks surpassed Wall Street's fiscal fourth-quarter estimates and issued upbeat guidance.
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Palo Alto Networks
reported better-than-expected quarterly results and issued upbeat guidance for the current period. The cybersecurity software vendor said Nir Zuk, who founded the company in 2005, is retiring from his role as chief technology officer.
The stock rose about 6% in extended trading.
Here’s how the company did compared to LSEG estimates:
The cybersecurity company also said on Tuesday that it's buying Israeli startup Koi
The cybersecurity company said in July it would by Israeli cybersecurity provider CyberArk for $25 billion.
Cybersecurity stocks have plunged this year on worries that AI will disrupt their business models.
Palo Alto Networks will takeover Israeli cybersecurity provider CyberArk in a deal valued at $25 billion.
Palo Alto has bet big on AI in recent months and launched an aggressive acquisition spree that included buying CyberArk for $25…
Shares rose post-earnings Monday evening but were still down from when the company's interest in CyberArk was first reported.
