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Industrials

Cybersecurity firm Palo Alto Networks posts 28% rise in revenue

May 29 (Reuters) - Cybersecurity company Palo Alto Networks Inc reported a 28% jump in quarterly revenue on Wednesday, boosted by strong growth in its cloud security business.

The company’s net loss narrowed to $20.2 million, or 21 cents per share, in the third quarter ended April 30, from $40.4 million, or 44 cents per share, a year earlier.

Total revenue rose to $726.6 million from $567.1 million.

Separately, the company said it would buy Israel-based cybersecurity firms Twistlock for $410 million in cash and PureSec for an undisclosed amount. (Reporting by Akanksha Rana in Bengaluru; Editing by Sriraj Kalluvila)

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