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Radware Reports Record Revenue, Exceeds Expectations, Stock Surges
Radware reported record third-quarter revenue of $84.4 million, exceeding analyst expectations and marking a 12% year-over-year increase. The company's stock surged 4.7% following the announcement. Adjusted earnings per share also surpassed forecasts at 32 cents.
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What happened
- 01Radware announced record Q3 revenue of $84.4 million, a 12% annual increase, beating expectations.
- 02The company's stock rose 4.7% to $37.16 after reporting results that surpassed analyst forecasts.
- 03Adjusted earnings per share came in at 32 cents, higher than the expected 29 cents.
- 04Cloud security ARR reached $107 million, up 21%, with cloud now comprising 41% of total ARR.
- 05The strengthening shekel reduced the company's Q3 profit by an estimated $4.6 million.
- 06Radware anticipates significant revenue from its AI Protect product starting in 2027.
- 07Jefferies raised its price target for Radware stock to $40 from $27.
Radware highlighted strong demand for its cloud security solutions and advancements in AI security, while noting a $4.6 million impact from the strengthening shekel on its profits.
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