Palo Alto Networks beats quarterly earnings estimates, acquires AI platform Console
Palo Alto Networks beats quarterly earnings estimates, acquires AI platform Console Sept 1 (Reuters) - Palo Alto Networks PANW.O beat fourth-quarter earnings estimates on Tuesday and announced the acquisition of AI-native platform Console, saying advances in artificial intelligence are making cybersecurity a higher priority for corporate technology leaders.
Here are more details:
Palo Alto Networks said it acquired Console, an AI-native platform designed to help organizations use AI-driven analysis and action across enterprise operations.
CEO Nikesh Arora said the acquisition will allow customers to "build agentic workflows in natural language" that can automatically flag and remediate issues.
The growing use of AI is increasing cybersecurity needs, as companies deploy AI at scale and face new security risks.
The company posted fourth-quarter revenue of $3.41 billion, beating analysts' average estimate of $3.35 billion, according to data compiled by LSEG.
Adjusted profit per share came in at $1.02, ahead of estimates of 98 cents.
The company forecast fiscal 2027 revenue of between $14.10 billion and $14.20 billion, above analysts' estimate of $13.79 billion.
Palo Alto Networks forecast fiscal 2027 adjusted profit per share of between $4.16 and $4.19, above estimates of $4.11.
(Reporting by Anzar Mehraj in Bengaluru; Editing by Shailesh Kuber)
((Anzar.Mehraj@thomsonreuters.com;))
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