• Palo Alto Networks reported higher revenue and profit than expected for the primary quarter of fiscal 2025.

• The cybersecurity company lifted its projections for full-year revenue and adjusted earnings per share (EPS).

• Palo Alto Networks also said it is going to undergo a 2-for-1 stock split next month.

Palo Alto Networks (PANW) posted better-than-expected fiscal 2025 first-quarter results and announced a 2-for-1 stock split after the bell Wednesday.

The cybersecurity company reported $2.14 billion in revenue for the quarter, up from $1.88 billion a 12 months ago and just above the $2.12 billion consensus estimate of analysts compiled by Visible Alpha. Profit of $350.7 million jumped greater than 80% and simply topped the expected $272.1 million.

Chief Executive Officer (CEO) Nikesh Arora said the corporate notes that its customers are realizing its “platformization” strategy of consolidating and bundling services to spice up sales is “the sport changer that may solve security and enable higher AI outcomes.”

Wedbush analysts, while maintaining an “outperform” rating and $400 price goal, said they imagine the corporate’s “efforts on platformization are only starting to hit its stride because it generates a more stable pipeline of platformization deals with cloud penetration still acting as a serious driver going forward.”

Palo Alto Networks also announced a stock split that may make it the newest company to achieve this this 12 months, joining the likes of Walmart (WMT), Chipotle Mexican Grill (CMG), and Nvidia (NVDA). Firms perform stock splits for a wide range of reasons, including making their share price more accessible to a wider range of investors and increasing trading activity on their stock.

Palo Alto Networks soon will double its existing variety of shares with a 2-for-1 split, meaning shareholders of record as of Dec. 12 will receive an extra share for every one they own after the market closes Dec. 13. The brand new variety of shares and halved price will take effect Dec. 16.

The corporate also lifted its full-year outlook for fiscal 2025, with revenue expected between $9.12 billion to $9.17 billion, up from $9.10 billion to $9.15 billion previously. Adjusted earnings per share (EPS) are seen between $6.26 to $6.39, up from $6.18 to $6.31.

Palo Alto shares recently were up 1.4% at $398.46 Thursday, roughly 35% above where they began the 12 months.