Palo Alto Networks CEO: Seeing protracted process for purchase decisions
Speaking during the company's Q1 earnings conference call earlier, Palo Alto Networks CEO Mark McLaughlin said, "Security remains a strategic priority for global enterprises and organizations, and we continue to capture mindshare and market share at very high rates. In the quarter, we saw strong demand for our next generation security platform from both new and existing customers... Our Q1 results were not as robust as we expected. We are seeing purchasing decisions have to go through additional approvals, particularly in larger companies on the increasingly larger opportunities we are winning. As a result we saw some deals push. Our win rates remain as high as ever, a good number of the pushed deals have closed, and we are benefiting long-term as the security provider of choice. In the short-term, we have taken the longer sales cycle into account in our guide."