The cybersecurity firm said its “platformization” strategy is beginning to pay dividends as more large customers consolidate their spending on its offerings.

Palo Alto Networks Inc. jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks.

Palo Alto Networks stock was surging Tuesday as the company’s latest earnings bolstered Wall Street’s confidence in its efforts to become the dominant cybersecurity platform. Palo Alto shares were up 4.