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Benzinga
Benzinga
Business
Adam Eckert

Why Palo Alto Networks Stock Is Moving Higher

Palo Alto Palo Alto Networks Nasdaq

Palo Alto Networks Inc (NASDAQ:PANW) shares are trading higher Friday after the company reported better-than-expected financial results and raised guidance.

Palo Alto said fiscal third-quarter revenue increased 29% year-over-year to $1.39 billion, which beat the estimate of $1.36 billion, according to data from Benzinga Pro. The cybersecurity company reported quarterly earnings of $1.79 per share, which beat the estimate of $1.68 per share. Fiscal third-quarter billings grew 40% year-over-year to $1.8 million.

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