Palo Alto Networks Inc ( PANW ) shares are in the spotlight Wednesday. The company announced a quantum-safe plan with IBM ahead of earnings after the bell.

PANW is performing well relative to peers. See the complete data here.

What To Know: Palo Alto Networks ( PANW ) and IBM announced an agreement to provide a new Quantum-Safe Readiness solution that will assist businesses in identifying cryptographic exposure, comprehending risks associated with quantum computing and expediting the shift to quantum-safe security.

“Our customers need a comprehensive, practical roadmap to a quantum-safe future and the experts to help them execute it,” said Anand Oswal, EVP of Network & AI Security Products at Palo Alto Networks ( PANW ). “This collaboration provides just that by integrating our platform’s deep cryptographic visibility and unique cipher translation capabilities with IBM’s renowned quantum-safe services.”

The company will release first-quarter financial results after the bell on Wednesday. According to Benzinga Pro, analysts expect the company to report earnings of $0.73 per share on $2.46 billion in revenue.

Palo Alto Networks’ fiscal fourth-quarter revenue of $2.5 billion.

PANW Price Action: Palo Alto shares were up 0.05% at $201.11 at the time of publication on Wednesday, according to Benzinga Pro.

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