Cybersecurity firm Palo Alto projects strong annual billings, shares rally

Palo Alto Networks chief executive Nikesh Arora

BENGALURU: Palo Alto Networks has forecast annual billings above market estimates, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats.

Shares of the company jumped more than 8% in extended trading, lifting rivals Zscaler and Fortinet by 3.5% and 1.5%, respectively.