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Palo Alto Networks' revenue jumps as subscriptions rise

Mark McLaughlin, president and chief executive officer of Palo Alto Networks speaks during an interview in New York, March 19, 2013. REUTERS
Mark McLaughlin, president and chief executive officer of Palo Alto Networks speaks during an interview in New York, March 19, 2013. REUTERS

(Reuters) - Security software maker Palo Alto Networks's quarterly revenue jumped 49 percent as subscriptions rose, sending its shares up 8 percent in extended trading.

The company's net loss increased to $7.9 million, or 11 cents per share, in the first quarter ended October 31, from $3.5 million, or 5 cents per share, a year earlier. Excluding items, the company earned 8 cents per share

Revenue rose to $128.2 million from $85.9 million.

Palo Alto Networks sells firewalls that prevent data breaches and block malware and viruses.

(Reporting By Aditya Kondalamahanty in Bangalore; Editing by Saumyadeb Chakrabarty)

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