The Traderszone Network

Published in TZ Latest News 2 September, 2016 by The TZ Newswire Staff

Palo Alto Networks’ $500 Million Buyback Won’t Help Investors

Shares of Palo Alto Networks (NYSE: PANW) fell 7% on Aug. 31 after the cybersecurity firm followed up a decent fourth quarter report with weak guidance for the first quarter. Revenue rose 41% annually to $400.8 million, beating estimates by $11.1 million. However, that represented a slowdown from 48% growth in the previous quarter and 59% growth in the prior year quarter. Its non-GAAP net income rose 85% to $46.2 million, or $0.50 per share, which merely matched analyst expectations.

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