Why Palo Alto Networks Stock Surged Almost 19% in February
Shares of Palo Alto Networks (NASDAQ: PANW) rocketed 18.7% in February, according to data provided by S&P Global Market Intelligence. Driving the cybersecurity stock's rally was its strong fiscal second-quarter results.
In the second quarter, the global cybersecurity leader's revenue soared 26% to $1.7 billion. Operating income and adjusted free cash flow rose 55% to $377 million and $685 million, respectively.
The company also reported $1.05 per share of adjusted earnings, which was 81% above the year-ago level. Earnings were also $0.28 per share ahead of Palo Alto's guidance and $0.27 per share above the analysts' consensus estimate.
Source Fool.com
