Palo Alto (PANW) Q2 Earnings Beat, Stock Plunges on Guidance Cut

Palo Alto Networks, Inc. (PANW) reported better-than-expected results for the second quarter of fiscal 2024. The company reported non-GAAP earnings of $1.46 per share for the second quarter, beating the Zacks Consensus Estimate of $1.30. The bottom line improved 39% from the year-ago quarter’s non-GAAP earnings of $1.05 per share and came toward the higher end of the company’s earlier guidance range of $1.29-$1.31.Palo Alto’s second-quarter revenues of $1.98 billion beat the Zacks Consensus Estimate of $1.9 ...