Palo Alto Networks Q2 Revenue Surges 34.4%, Outperforms Peers

Cybersecurity stocks reported a strong Q2 with revenues beating consensus estimates by 1.7%, but have collectively declined 1.7% since earnings. Palo Alto Networks (PANW) revenue increased 34.4% YoY to $3.41 billion, exceeding analyst expectations. PANW achieved the highest guidance raise, fastest revenue growth, and highest full-year guidance raise among peers. The stock is down 8.7% since reporting and currently trades at $330.65.