(Reuters) -Palo Alto Networks forecast fiscal 2025 revenue and profit above Wall Street estimates on Monday, a sign of growing demand for its comprehensive cybersecurity offerings as digital threat landscape evolves.
Shares of Santa Clara, California-based Palo Alto Networks rose about 3% in extended trading, as the company also announced an additional $500 million for share repurchases.
A surge in digital scams, online threats and high-profile cybersecurity incidents have triggered robust demand for companies such as Palo Alto offering integrated security products.
The company expects annual revenue to be between $9.10 billion and $9.15 billion, compared with analysts’ average estimate of $9.11 billion, according to LSEG data.
It expects an annual adjusted profit per share in the range of $6.18 to $6.31, compared with estimates of $6.19 per share.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)
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