Sept 1 (Reuters) – Palo Alto Networks beat fourth-quarter earnings estimates on Tuesday and announced the acquisition of AI-native platform Console, saying advances in artificial intelligence are making cybersecurity a higher priority for corporate technology leaders.
Here are more details:
• Palo Alto Networks said it acquired Console, an AI-native platform designed to help organizations use AI-driven analysis and action across enterprise operations.
• CEO Nikesh Arora said the acquisition will allow customers to “build agentic workflows in natural language” that can automatically flag and remediate issues.
• The growing use of AI is increasing cybersecurity needs, as companies deploy AI at scale and face new security risks.
• The company posted fourth-quarter revenue of $3.41 billion, beating analysts’ average estimate of $3.35 billion, according to data compiled by LSEG.
• Adjusted profit per share came in at $1.02, ahead of estimates of 98 cents.
• The company forecast fiscal 2027 revenue of between $14.10 billion and $14.20 billion, above analysts’ estimate of $13.79 billion.
• Palo Alto Networks forecast fiscal 2027 adjusted profit per share of between $4.16 and $4.19, above estimates of $4.11.
(Reporting by Anzar Mehraj in Bengaluru; Editing by Shailesh Kuber)