Average Ransom Demand Up 518% in First Half: Palo Alto CEO
The ransomware threat “continues to rise,” and the average ransom demand in 2021's first half grew 518% from a year earlier, said Palo Alto Networks CEO Nikesh Arora on an earnings call Monday for fiscal Q4 ended July 31. “Ransomware…
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readiness” is one of Palo Alto’s “key engagements,” he said. It did 39 readiness “assessments” in the quarter and has 300 more in the “pipeline,” he said. Quarterly billings of $1.87 billion were up 24% year over year, "well ahead of our guided 22% to 23% growth," said Chief Financial Officer Dipak Golechha. Revenue growth of 28% "was above the high end of our guidance range," he said. "Growth was driven by strong demand across all geographies and major product areas." The stock closed 18.6% higher Tuesday at $441.87.