Palo Alto Networks Posts Blowout Q2 Results Despite Stock Drop
• Palo Alto Networks Q2 2024 revenue up 19% to $1.98 billion, beating expectations
• Net income surged to $1.75 billion from $0.09 billion in Q2 2023
• EPS jumped to $5.47 from $0.28 in Q2 2023, significantly exceeding forecasts
• Profit margin expanded to 88% from 5.1% in Q2 2023 due to lower expenses
• Share price dropped 27% over the past week despite strong earnings results