Cybersecurity firm Palo Alto projects strong annual billings, shares rally

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Palo Alto Networks forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats.Shares of the company jumped more than 8 per cent in extended trading, lifting rivals Zscaler and Fortinet by

Palo Alto Networks forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats.

The biggest winners of that have been the companies that serve as a one-stop shop for cybersecurity solutions, helping clients be more efficient and improve risk management. Global average weekly cyber attacks rose 8 per cent increase in the second quarter of 2023, according to Check Point Research, with the average number of attacks per organization per week hitting a two-year high.

 

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