Shares of Palo Alto Networks (NASDAQ: PANW) climbed 10% this week, according to data provided by S&P Global Market Intelligence, after the cybersecurity specialist announced strong quarterly earnings.

Indeed, the bulk of Palo Alto Networks' pop came on Monday -- the first trading day after it released fiscal fourth-quarter 2023 (ended July 31, 2023) results last Friday after the market closed. After a brief panic given the unusual timing of the release, Palo Alto Networks management explained during its earnings conference call on Sunday that the company needed to disclose its financial performance ahead a sales conference that took place over the weekend.

Palo Alto Networks' quarterly revenue climbed 26% year over year, to $1.953 billion, translating to adjusted (non-GAAP) net income of $482.5 million, or $1.44 per share. Analysts, on average, were expecting adjusted earnings of only $1.29 per share on slightly higher revenue of $1.96 billion.

Continue reading

Source Fool.com