Palo Alto reports 49 pct jump in revenue, settles lawsuit with Juniper

Wed May 28, 2014 4:32pm EDT

May 28 (Reuters) - Security software maker Palo Alto Networks Inc reported a 49 percent jump in revenue, helped by higher subscriptions, and said it has settled all patent litigation with network gear maker Juniper Networks Inc .

Palo Alto's shares rose as much as 9 percent in extended trading on Wednesday.

The company's net loss, however, widened to $139.1 million, or $1.86 per share, from $7.3 million, or 10 cents per share, a year earlier, mainly due to expenses related to the settlement with Juniper.

Revenue jumped to $150.7 million in the quarter ended April 30. Operating expenses rose threefold to $249.3 million. (Reporting By Sampad Patnaik in Bangalore; Editing by Don Sebastian)

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