By Jaspreet Singh
(Reuters) – Palo Alto Networks forecast fiscal 2025 revenue and profit above Wall Street estimates on Monday, a sign of growing demand for its cybersecurity products as the digital threat landscape evolves.
Its shares rose about 2% in extended trading, as the company announced an additional $500 million for share repurchases. They dipped briefly during the post-earnings call after CEO Nikesh Arora said the recent global IT outage has caused several customers to reevaluate their options.
A surge in online threats have triggered demand for companies such as Palo Alto offering cybersecurity products.
However, analysts have said the July 19 outage, linked to CrowdStrike’s software update, has exposed risks of dependence on a single vendor.
Beginning this quarter, the company will give next-generation security annual recurring revenue as the key financial metric for revenue projections both quarterly and annually, CFO Dipak Golechha said.
“It was a strong quarter and better-than-expected beat and raise as PANW continues to scale its Next-Gen…
