Palo Alto Networks Slips After Missing Billings Estimate

Posted on AllSides November 15th, 2023
From The Left

Cybersecurity firm Palo Alto Networks Inc. tumbled after missing Wall Street estimates for billings in its fiscal first quarter and lowering its estimates for the full year. The company said billings were $2.02 billion in the three months ended Oct. 31, and said full-year fiscal billings would be $10.7 billion to $10.8 billion, down from earlier projections of $10.9 billion to $11.0 billion The shares fell to as low as $226.09, in extended trading, after closing at $256.18 in New York. Palo Alto shifted its strategy into software over hardware...

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