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Benzinga
Benzinga
Business
Adam Eckert

Palo Alto Networks Stock Is Soaring: Here's Why

Palo Alto Palo Alto Networks Nasdaq

Palo Alto Networks Inc (NASDAQ:PANW) shares are trading higher Tuesday after the company reported strong financial results, issued guidance and announced a three-for-one stock split.

Palo Alto said fiscal fourth-quarter revenue increased 27% year-over-year to $1.55 billion, which beat average analyst estimates of $1.54 billion, according to Benzinga Pro. The cybersecurity company reported quarterly adjusted earnings of $2.39 per share, which is up from $1.60 per share year-over-year.

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