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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, DOWNBEAT GDP

Caterpillar sinks 7% after earnings, management sees weakness in Europe, Asia-Pacific

Why Palo Alto Networks Stock Popped Today

Joe Tenebruso, The Motley Fool
·2 min read
Why Palo Alto Networks Stock Popped Today

Shares of Palo Alto Networks (NASDAQ: PANW) climbed 9.7% on Friday after the cybersecurity leader reported impressive sales growth metrics and raised its full-year profit projections. Palo Alto Networks' revenue rose 29% year over year to $1.4 billion in its fiscal 2022 third quarter, which ended on April 30. CEO Nikesh Arora said during a conference call with analysts that "increased macroeconomic volatility and geopolitical uncertainty" were boosting demand for effective cybersecurity solutions.

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