Palo Alto Networks Falls After Disappointing Profit Forecast

Palo Alto Networks Inc. shares fell the most in two years after the cybersecurity company released a forecast for adjusted earnings that was weaker than anticipated.

The firm said in a statement Tuesday that its adjusted earnings per share for the year would be $3.65 to $3.70, down from the prior estimate of $3.87. It forecast adjusted earnings per share of 78 cents to 80 cents for the third quarter, down from an estimate of 92 cents.