Palo Alto Networks Suffers 17% Plunge in After-Hours Trading After Lowering Full-Year Revenue and Billings Guidance: What Investors Need to Know
SAN JOSE, Calif. – Palo Alto Networks, a cybersecurity company, experienced a significant drop in its stock price after reporting its fiscal second-quarter results. The company’s shares plummeted by 17% in extended trading on Tuesday following a beat on both the top and bottom lines but a downward revision of its full-year revenue and billings guidance. The company reported adjusted earnings per share of $1.46, surpassing the $1.30 expected by LSEG, formerly Refinitiv. Additionally, their …