Hey, it's Kramer, and this is my morning take on the market from today's CNBC Investing Club

morning meeting.

Let's jump to Palo Alto next.

So the company reported last night, it was very in line.

I think it was just a very in line quarter.

Billings up 3.4% missed estimates by $5 million.

That's an end. That's with a B.

Not a B.

Earnings beat by seven cents. They bought back a 1.7 million shares for 500 million.

Q4 guidance in line though, but I would think that the tone of this call was much different from what we heard in the past couple of calls.

Yes.

Where this was more of about Palo Alto, I think, playing

offense, securing large deals, some early signs that the platformization strategy is working.

He's still saying don't look at billings because of the high cost of money changing the duration

of contracts. Look at RPO. RPO actually ticked up in the quarter up 23%. Yeah, you would think that it went down from all the chatter.

Right. You know, just talking about platformization, there was obviously one of the biggest hacks of all time in the quarter, United Healthcare.

They chose Palo Alto, and when Palo Alto explained to them the benefits of platformization, they adopted it.

So I think that's a nice win.

Did you see how much more they make on a platformization customer?

Ten times what they make from a non.

Sure, because they're selling so many more different products.

You can get bogged out on buildings.

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