Palo Alto Networks has reported its fourth-quarter financial results for the fiscal year 2024, ending in July. Total revenue reached $2,189.5 million, representing a 16% increase from the same period the previous year. The net income according to GAAP stood at $357.7 million.
The continuous revenue figures over 12 months for the Next-Generation Security ARR product segment saw a remarkable 43% growth, totaling $4.2 billion. With outstanding commitments yet to be delivered, an additional 20% revenue increase to $12.7 billion is yet to be recorded.
The presentation by Palo Alto Networks highlighted ongoing challenges in the cybersecurity service provider market. The increasing impact of cyber attacks and recent widespread system disruptions have led senior executives to intensify future strategies. The use of Generative AI within organizations has notably surged in the past 10 months.
Source: Palo Alto Networks
TLDR: Palo Alto Networks reports significant revenue and profit growth in Q4 2024, driven by Next-Generation Security ARR products. Ongoing market challenges emphasize the importance of cybersecurity in the face of evolving threats.
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