Monday morning, Palo Alto Networks Inc. (NYSE: PANW) reported record-breaking Q2 2014 earnings, sending shares flying more than 6.41% as of 10:50 a.m. EST.
Total revenue for the company's second quarter grew 46% year over year to a record $141.1 million, beating Wall Street estimates of $135.6 million. Revenue is up $44.6 million compared to the same quarter in 2013, and deferred revenue grew 72% year over year to reach a record $324.6 million.
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Proving again that bigger is better in the fight against global cyber-attacks, another sizable cyber deal was inked late Monday.
Santa Clara, Calif.-headquartered Palo Alto Networks Inc. (NYSE: PANW) acquired Silicon Valley startup Morta Security, described as "operating in stealth mode since 2012." Financial terms of the transaction were not disclosed.
PANW stock rose 3.7% Tuesday on the news.
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