RTTNews | Aug 24, 2021 10:17AM EDT

10:17 Tuesday, August 24, 2021 (RTTNews.com) - Palo Alto Networks, Inc. (PANW) shares are rising more than 16 percent after the company reported fourth-quarter adjusted profit that beat analysts estimates.

The company reported a quarterly net loss of $19.3 million or $1.23 per share, compared to net loss of $58.9 million, or $0.61 per share in the prior year. On an adjusted basis, earnings were $161.9 million or $1.60 per share. Wall Street analyst expected earnings of $1.43 per share on revenue of $1.17 billion.

Currently, shares are at $438.65, up 17.67 percent from the previous close of $372.57 on a volume of 3,411,594. For the 52-week period, the shares have traded in a range of $219.34-$440.00 on average volume of 940,785.

Read the original article on RTTNews ( https://www.rttnews.com/3220772/palo-alto-gains-after-q4-adj-profit-beats-estimates.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved