
Palo Alto Networks Inc (NASDAQ:PANW) shares are trading higher Tuesday after the company reported better-than-expected results for the fourth quarter and issued strong guidance.
What Happened: Palo Alto beat analyst expectations on the top and bottom lines in the fourth quarter as revenue climbed 16% year-over-year to $2.54 billion versus estimates of $2.50 billion. The company also reported fourth-quarter adjusted earnings per share of 95 cents versus estimates of 88 cents.