Palo Alto Networks Inc. (NASDAQ:PANW) reported fiscal third-quarter 2026 results after the market close Tuesday, beating Wall Street expectations on revenue and earnings while raising its full-year outlook.

Revenue, Earnings Top Estimates

Revenue rose 31% year over year to approximately $3 billion, topping analyst estimates of $2.94 billion. Adjusted earnings came in at 85 cents per share, ahead of consensus estimates of 80 cents per share.

The cybersecurity company also reported remaining performance obligations (RPO) of $18.4 billion, up 36% from a year earlier, reflecting strong demand and future revenue visibility.

Next-Generation Security Growth Accelerates

Annual recurring revenue (ARR) for Palo Alto’s Next-Generation Security business reached $8.13 billion, up 60% year over year and above company guidance. Excluding contributions from CyberArk and Chronosphere, organic NGS ARR increased 28%.

Current RPO climbed 34% to $8.3 billion, while total RPO increased 36% to $18.4 billion. On an organic basis, total RPO grew 22%.

Services revenue increased 31% to $2.4 billion, while product revenue rose to $594 million during the quarter.

SASE ARR reached $1.6 billion, up 40% year over year, ...