Palo Alto Networks Inc (NYSE:PANW, ETR:5AP) shares continued to sink on Wednesday after the cybersecurity firm slashed its full-year sales outlook in Tuesday’s second-quarter earnings call.
The firm said it expects revenues in the range of $7.95 billion to $8 billion, representing growth of 15% to 16%, down from previous forecasts in the range of 18% to 19%.
The cloud security and endpoint protection also revised its adjusted earnings per share (EPS) expectation of $5.45 to $5.55 compared to its prior expectation of $5.40 to $5.53.
Palo Alto’s shares were last seen over 26% lower at $269.83.
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