Palo Alto Networks Shares Drop After Q3 Results, In-Line Guidance: The Details
Portfolio Pulse from Erica Kollmann
Palo Alto Networks (NASDAQ:PANW) reported Q3 earnings of $1.32 per share, beating estimates by 5.6%, and sales of $1.985 billion, surpassing expectations. Despite positive results and in-line guidance, shares dropped 8.88% after-hours.
May 20, 2024 | 8:20 pm
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Palo Alto Networks reported strong Q3 earnings and sales, both beating analyst estimates. However, despite the positive results and in-line guidance, the stock dropped 8.88% after-hours.
The stock price drop of 8.88% after-hours suggests that investors may have had higher expectations or concerns about future growth despite the positive earnings and sales results. The in-line guidance may not have been enough to offset these concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100