Palo Alto Networks (PANW) posted better-than-expected fiscal 2025 first-quarter results and announced a 2-for-1 stock split after the bell Wednesday.
The cybersecurity company reported $2.14 billion in revenue for the quarter, up from $1.88 billion a year ago and just above the $2.12 billion consensus estimate of analysts compiled by Visible Alpha. Profit of $350.7 million jumped more than 80% and easily topped the expected $272.1 million.
Chief Executive Officer (CEO) Nikesh Arora said the company notes that its customers are realizing its “platformization” strategy of consolidating and bundling services to boost sales is “the game changer that will solve security and enable better AI outcomes.”
Wedbush analysts, while maintaining an “outperform” rating and $400 price target, said they believe the company’s “efforts on platformization are just beginning to hit its stride as it generates a more stable pipeline of platformization deals with cloud penetration still acting as a major driver going forward.”
Palo Alto Networks also announced a stock …