New Delhi, Sept. 2 -- Shares of Palo Alto Networks plunged 11% in Wednesday's trade, 2 September, sliding to around $322 apiece as investors appeared disappointed with the company's fiscal fourth-quarter results, despite the numbers coming in above Wall Street expectations.

The decline also marked the stock's second consecutive session of losses, dragging shares to their lowest level in more than a month.

The company on Tuesday reported its fiscal fourth-quarter performance, with revenue climbing 34% year over year to $3.41 billion, while adjusted earnings came in at $4.16 to $4.19 per share.

"We delivered a strong Q4 to close out the year, adding nearly $1 billion of Net New NGS ARR in a single quarter," said Nikesh Arora, chairman an...