Palo Alto Networks names Google’s Amit Singh president

Palo Alto Networks names Google’s Amit Singh president

Palo Alto Networks Inc. PANW, -1.30% shares declined in the extended session Monday after the cybersecurity company named a new president and reiterated its first-quarter guidance. Palo Alto shares fell 1.6% after hours, following a 1.3% decline to close at $209.20 in the regular session. The company said Amit Singh will succeed Mark Anderson as president on Nov. 1. Singh most recently served as Alphabet Inc.’s GOOG, -1.61% GOOGL, -1.62% vice president of business and operations in emerging computing platforms at Google. Anderson will remain on in an advisory role until May 1, 2019, Palo Alto said. Singh’s appointment comes a little over four months after Nikesh Arora became chief executive and chairman. Palo Alto reiterated its first-quarter adjusted earnings outlook of $1.04 to $1.06 a share on revenue of $625 million to $635 million. Analysts surveyed by FactSet expect earnings of $1.06 a share on revenue of $632.6 million.

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