Why did Palo Alto Networks stock fall on Tuesday?

Palo Alto Networks, Inc. (NASDAQ:PANW) shares fell in line with on Tuesday oracle (NYSE: ORCL), which fell thereafter give gentle guidance.

What you should know: On Monday, Oracle reported mixed first-quarter earnings results. The company reported quarterly earnings of $1.19 per share, beating analysts’ consensus estimates of $1.15, and quarterly revenue of $12.45 billion, beating analysts’ consensus estimates of 12.46 billion US dollars.

The company expects total revenue to grow between 5% and 7% in the second quarter. Additionally, Oracle expects second-quarter earnings per share to be between $1.27 and $1.31, versus the estimate of $1.25.

The disappointing news impacted software stocks, with Palo Alto Networks trading nearly 3% lower on Tuesday.

Related link: Why Intel shares are trading higher today

PANW price history: Shares of PANW closed up 2.93% at $245.73 on Tuesday Benzinga Pro.

picture of Innova Labs out of Pixabay

Don’t miss out on real-time alerts about your stocks – sign up Benzinga Pro for free! Try the tool that helps you invest smarter, faster and better.

This article Why did Palo Alto Networks stock fall on Tuesday? originally appeared on Benzinga.com


© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

https://finance.yahoo.com/news/why-palo-alto-networks-stock-222709356.html Why did Palo Alto Networks stock fall on Tuesday?

Russell Falcon

Nytimepost.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@nytimepost.com. The content will be deleted within 24 hours.

Related Articles

Back to top button