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CyberArk's Strong Q2, Outlook Point To Cybersecurity Demand

CyberArk Software flew past Wall Street estimates with its second-quarter earnings Tuesday and issued upbeat guidance, showing strong industry demand for data security. The Israel-based developer of network security software said earnings per share minus items more than doubled to 19 cents from 9 cents a year ago. That shattered the 6 cents analysts had modeled. Revenue jumped 70% to $36.4 million, beating the consensus estimate of $32.4 million, as license revenue doubled to $22.3 million. CyberArk (CYBR) shares rose 3% in after-hours trading. "This was another exceptionally strong quarter, capitalizing on the increasing opportunity in our pipeline," said CEO Udi Mokady in a conference call. CyberArk's 10 largest business deals in Q2 were split between new...