The latest data point for PANW's EPS Surprise % in Q2'26 stands at 9.69%, marking a positive outcome that exceeds analyst expectations following a period of underperformance. This represents a modest improvement from the prior quarter's 4.38% surprise in Q1'26, though it remains below the stronger beats seen earlier in the series. Over the period from Q3'23 to Q2'26, EPS Surprise % exhibited volatility, starting with consistent positive surprises around 12.6% to 19.5% through Q1'24, before shifting to negative territory with declines peaking at -48.0% in Q3'24 and stabilizing around -44.6% to -47.3% in subsequent quarters up to Q1'25. A recovery emerged in Q2'25 with 4.0%, followed by gradual gains to 7.95% in Q4'25, though the overall trend reflects a challenging phase of misses before recent stabilization; meanwhile, EPS Growth (YoY) surged to 52.6% in Q4'23 but trended downward to near-flat or slightly negative levels (-0.9% in Q2'25), with a minor rebound to 0.5% in Q2'26, indicating decelerating earnings momentum amid market pressures.