Summary by Moomoo AI
Palo Alto Networks (PANW.US) reported a significant increase in financial performance for the third quarter ended April 30, 2024, with net income soaring to $278.8 million from $107.8 million in the same period last year. The diluted net income per share also rose to $0.79 from $0.31 year-over-year. Total revenue for the quarter reached $1.98 billion, marking a 15.3% increase from the previous year's $1.72 billion. The company's operating income improved to $176.7 million, up from $78.7 million, while operating margin expanded to 8.9% from 4.6%. Subscription and support revenue, which represents a significant portion of total revenue, grew by 19.6% year-over-year to $1.6 billion. The company's business development was highlighted by the acquisition of certain QRadar assets from IBM for $500 million, expected to enhance the growth...Show More