Palo Alto Network Suffers Additional Losses In Third Quarter

Palo Alto Networks have just reported that they suffered a bigger third quarter loss due to spending more on their products.

It was revealed that the company’s share have now fallen by a total of 8.1% to $136.18 extended trading on Thursday.

Additionally, the operating expenses of the company have jumped up by 50% to $309.5 million during the quarter that ended April 30, compared to past year.

Consequently, marketing and sales expenses have also risen by 54% to $202 million.

Analysts however are expecting the company to continue to gain market share from security service providers as they shift to subscription based services.