Palo Alto Networks also managed costs well, leading to a fiscal Q1 gross profit of $1.6 billion, up from $1.4 billion in 2023. This helped Q1 net income skyrocket to $350.7 million from $194.2 million in the prior year. Net income growth led to Q1 diluted earnings per share (EPS) of $0.99, an impressive increase from 2023's $0.56.

From fiscal 2019 to fiscal 2024 (which ended last July), Palo Alto's revenue grew at a compound annual growth rate (CAGR) of 23%. It also turned profitable on a generally accepted accounting principles (GAAP) basis in 2023 and 2024. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free »

Palo Alto Networks PANW has outperformed the market over the past 10 years by 12.93% on an annualized basis producing an average annual return of 24.52%. Currently, Palo Alto Networks has a market capitalization of $123.

Palo Alto Networks ( PANW -0.20%) is one of the top names in the cybersecurity industry, and its stock has turned out to be a fruitful investment over the past two years. Share prices are up 157% during this period, beating the 78% gains registered by the Nasdaq-100 Technology Sector index.

Palo Alto Networks (NASDAQ: PANW) stock is making gains in Tuesday's trading thanks to a pair of bullish reports from analyts. The cybersecurity company's share price was up 3.8% as of 2 p.m. ET. The gains come amid a 0.