Palo Alto Networks Inc (NASDAQ:PANW) shares are trading lower Wednesday after the company issued weak guidance when it reported quarterly results. Multiple analysts either downgraded or cut price targets on the stock following the print.
- Q2 Revenue: $1.98 billion, beat estimates of $1.97 billion
- Q2 EPS: $1.46, beat estimates of $1.30
Total revenues increased 19% on a year-over-year basis. Remaining performance obligations grew 22% year-over-year to $10.8 billion. Adjusted operating margin grew 580 basis points year-over-year to 29%.
“Our leadership across all of our three platforms and growing ...