Nikesh Arora, CEO of Palo Alto Networks, looks on during the closing bell at the Nasdaq Market in New York City on March 25, 2025.
Jeenah Moon | Reuters
Palo Alto Networks reported better-than-expected quarterly results and issued upbeat guidance for the current period. The cybersecurity software vendor said Nir Zuk, who founded the company in 2005, is retiring from his role as chief technology officer.
The stock rose about 6% in extended trading.
Here’s how the company did compared to LSEG estimates:
- Earnings: 95 cents adjusted vs. 88 cents expected
- Revenue: $2.54 billion vs. $2.5 billion expected.
Revenue in the fiscal fourth quarter rose 16% from about $2.2 billion last year, the company said in a statement. Net income fell to about $254 million, or 36 cents per share, from about $358 million, or 51 cents per share, in the year-ago period.
The company also issued upbeat guidance for the fiscal first quarter. Earnings per share will be between 88 cents and 90 cents, Palo Alto said, topping an 85-cents estimate from StreetAccount.
For the full year, Palo Alto said revenue will range from $10.48 billion to $10.53 billion on adjusted earnings of $3.75 to $3.85 per share. Both estimates exceeded Wall Street’s projections.
Palo Alto said that for the fiscal first quarter, remaining purchase obligations, which tracks backlog, will range between $15.4 billion and $15.5 billion, surpassing a $15.07 billion estimate.
Last month, the company announced plans to buy Israeli identity security provider CyberArk for $25 billion. It’s the largest deal Palo Alto has made since its founding, and most ambitious in an acquiring spree that ramped up after CEO Nikesh Arora took the helm of the company in 2018.
Shares sold off sharply after the news broke and have yet to recover previous highs. The stock is down about 3% this year as of Monday’s close.
“We look for great products, a team that can execute in the product, and we let them run it,” Arora told CNBC following the announcement. “This is going to be a different challenge, but we’ve done well 24 times, so I’m pretty confident that our team can handle this.”
Lee Klarich, the company’s product chief, will replace Zuk as CTO and fill his position on the board.
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The comments, due by Oct. 17, will focus on “innovative methods to detect illicit activity involving digital assets,” as required by the GENIUS Act.
A woman who was charged with selling Friends star Matthew Parry the dose of the drug that killed him has agreed to plead guilty.
Jasveen Sangha, known as the “Ketamine Queen”, is the fifth and final defendant to strike a plea deal with prosecutors, avoiding a trial that was set to take place in September.
The 42-year-old agreed to plead guilty to five federal criminal charges, including providing the Ketamine that led to Perry’s death, federal prosecutors said in a statement.
She agreed to plead guilty to five federal criminal charges, including providing the Ketamine that led to Perry’s death, federal prosecutors said in a statement.
Prosecutors had cast Sangha, a dual US and UK national, as a prolific drug dealer known to her customers as the “Ketamine Queen”, often using the term in court documents and even including it in the official name of the case.
Actor Matthew Perry in 2015. File pic: Reuters
She agreed to plead guilty to one count of maintaining a drug-involved premises, three counts of distribution of ketamine, and one count of distribution of ketamine resulting in death or serious bodily injury.
Sangha will officially change her plea to guilty at an upcoming hearing, where sentencing will be scheduled, prosecutors said.
Dr. Mark Chavez, a physician from San Diego, who is charged in connection with Matthew Perry’s fatal overdose. Pic: AP
She is facing up to 45 years in prison.
Sangha and a doctor named Salvador Plasencia, who signed his own plea deal in June, had been the primary targets of the investigation.
Three other defendants – Mark Chavez, who it was claimed bought the drug from Sangha, Kenneth Iwamasa, and Erik Flemin – agreed to plead guilty last year in exchange for their cooperation, which included statements implicating Sangha and Plasencia.
Friends became one of the most popular TV shows in the world in the 1990s and 2000s
Prosecutors allege Chavez funnelled ketamine to Plasencia, securing some of the drug from a wholesale distributor through a fraudulent prescription.
In one instance, prosecutors allege that Plasencia “charged Perry $2,000 (£1,500) a vial that cost Dr Chavez approximately $12 (£9)”.
Perry died in his home in October 2023, aged 54, after getting ketamine from his regular doctor for treatment of depression, which is an increasingly common use for the surgical anaesthetic.
The actor was taking ketamine six to eight times a day before he died, according to court documents.
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