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Palo Alto Networks Plunges After Giving Disappointing Forecast

Posted on AllSides February 20th, 2024
From The Left

Palo Alto Networks Inc. tumbled in late trading after cutting its revenue forecast for the year, sparking concerns that customers are reining in tech spending.

Sales will be $7.95 billion to $8 billion this fiscal year, the company said in a statement Tuesday . It previously projected revenue of as much as $8.2 billion, and analysts were estimating $8.18 billion.

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