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Palo Alto's adjusted profit tops estimates, shares jump
May 31, 2017 / 8:18 PM / 6 months ago

Palo Alto's adjusted profit tops estimates, shares jump

May 31 (Reuters) - Cybersecurity company Palo Alto Networks Inc reported a better-than-expected adjusted profit for the third quarter, driven by expansion within its existing customer base as well as new customer additions.

The company’s shares rose more than 10 percent in extended trading on Wednesday.

Palo Alto reported an adjusted profit of 61 cents per share for the quarter, beating analysts average estimate of 55 cents, according to Thomson Reuters I/B/E/S.

The company’s revenue rose 25 percent to $431.8 million in the three month ended April 30.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza

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