Cyber security company Palo Alto Networks reported higher than expected second quarter results thanks to its partnerships which have been getting its foot in the door with companies and governments.
Palo Alto, which went public in 2012 and provides internet security and malware analysis products, has been grabbing market share from traditional firewall suppliers. Palo Alto recently boogied with Honeywell to protect industrial facilities and also signed a deal with peer Proofpoint to jointly provide security services to customers.
Palo Alto forecast a third quarter profit of 41-42 cents per share and revenues of $335 million-$339 million. Analysts thought the figure would be about $334.6 million.
The outfit is still running at a net loss of $62.5 million from $43 million. Revenues rose to $334.7 million from $217.7 million, above analysts’ expectation of $318.3 million.
