Reported 1 day ago
Palo Alto Networks projected fiscal 2026 revenue and profit exceeding analyst expectations, driven by surge in demand for AI-enhanced cybersecurity solutions, leading to a 5% increase in shares. The company is capitalizing on the rising need for robust security due to high-profile cyberattacks and expanding its offerings, including the new 'Cortex Cloud' and 'Prisma AIRS' platforms. With CEO Nir Zuk retiring, new CTO Lee Klarich aims to strengthen the AI-driven strategy amidst favorable financial forecasts, including an expected annual revenue between $10.48 billion and $10.53 billion.
Source: YAHOO