Key facts
- Palo Alto Networks acquired AI-native platform Console.
- The company's fourth-quarter revenue was $3.41 billion, exceeding analysts' average estimate of $3.35 billion.
- Adjusted profit per share for the fourth quarter was $1.02, surpassing the estimated 98 cents.
- Palo Alto Networks projects fiscal 2027 revenue between $14.10 billion and $14.20 billion, higher than the estimated $13.79 billion.
- Fiscal 2027 adjusted profit per share is forecasted to be between $4.16 and $4.19, exceeding estimates of $4.11.
Palo Alto Networks exceeded fourth-quarter earnings expectations and announced its acquisition of Console, an AI-native platform. The company stated that advancements in artificial intelligence are elevating the importance of cybersecurity for corporate technology leaders.
CEO Nikesh Arora highlighted that the Console acquisition will enable customers to create agentic workflows using natural language, which can automatically identify and resolve issues. The increasing deployment of AI by companies is driving a greater need for cybersecurity solutions due to emerging security risks.
Palo Alto Networks reported fourth-quarter revenue of $3.41 billion, surpassing analysts' average estimate of $3.35 billion. Adjusted profit per share came in at $1.02, ahead of the 98 cents expected by analysts.
Looking ahead, the company forecasts fiscal 2027 revenue to be between $14.10 billion and $14.20 billion, exceeding the analyst estimate of $13.79 billion. Fiscal 2027 adjusted profit per share is projected to be between $4.16 and $4.19, also above the estimated $4.11.