Palo Alto Networks reported earnings that beat estimates but lowered full-year guidance. Revenue was $1.98 billion versus $1.97 billion expected, and earnings per share was $1.46 vs $1.30 expected. The company lowered its billings growth forecast from 16-17% to 10-11% and revenue growth guidance from 18-19% to 15-16%. CEO cited a "shift" in strategy to accelerate growth and platform migration. Shares plunged 19% on the lowered outlook despite the earnings beat. Guidance for the next quarter also fell below analyst expectations.