India, June 2 -- Cybersecurity company Palo Alto Networks Inc. (PANW) on Tuesday reported a loss for the third quarter results, despite revenues rising sharply.
Revenue increased 31.1% to $3.00 billion from $2.29 billion a year earlier, including contributions from CyberArk and Chronosphere. Product revenue climbed 31.1% to $594 million, while subscription and support revenue rose 31.2% to $2.41 billion.
The company reported a net loss of $177 million, or $0.22 per share, compared with net income of $262 million, or $0.37 per share, in the prior-year quarter. The loss reflected acquisition-related costs, intangible asset amortization and share-based compensation expenses associated with recent acquisitions.
Adjusted net income increased ...