Security player Palo Alto Networks (NYSE:PANW) recently announced its quarterly results that continued to outpace market expectations. The company has put a pause on its acquisition spree for now and is instead focused on building its AI-focused product portfolio while improving margins. Palo Alto Network's Financials Palo Alto Networks' third quarter revenues grew 24% to $1.7 billion, ahead of the Street's estimate by 0.38%. Non GAAP net income was $1.10 per share. The market was looking for net income of $0.92 per share. By segment, Product revenues grew 10.4% to $388.1 million. Subscription and support revenues grew 28.7% to $1.332 billion. Among other metrics, billings improved 26% to $2.3 billion. For the fourth quarter of fiscal 2023, Palo Alto expects revenues of $1.973-$1.967 billion and an EPS of $1.26-$1.30. The market was looking for revenues of $1.95 billion and an EPS of $1.20. For the year, Palo Alto expects revenues of $6.88-$6.91 billion and an EPS of $4
Palo Alto Networks unveiled enhancements to its Prisma SASE single-vendor solution that allow users to automate their network operation center and information technology tasks with the help of natively integrated artificial intelligence, SiliconANGLE reports.