Palo Alto Networks delivers strong Q1

Palo Alto Networks CEO Mark McLaughlin said in a statement that its next-gen network security platform continues to become a "mainstream market choice" for enterprises.

Palo Alto Networks, which makes network security software and gear, delivered a strong first quarter as it added more than 1,000 new customers.

The company reported first quarter loss of $7.9 million, or 11 cents a share, on revenue of $128.2 million, up 49 percent from a year ago. Palo Alto reported a non-GAAP first quarter profit of $6.2 million, or 8 cents a share.

Wall Street was expecting a non-GAAP profit of 7 cents a share on revenue of $120.8 million.

Palo Alto CEO Mark McLaughlin said in a statement that its next-gen network security platform continues to become a "mainstream market choice" for enterprises.

Palo Alto has been in an intellectual property battle with Juniper Networks. Juniper has sued Palo Alto Networks for patent infringement. A pretrail hearing was recently held with a trial expected in early 2014. 

palo alto q1