The latest data point for PANW's Operation Income in Q2'26 shows a robust $397M USD, marking a significant increase from the previous quarter's $309M USD in Q1'26 and reflecting continued profitability momentum. Over the period from Q3'23 to Q2'26, Operation Income has exhibited an overall upward trend with notable volatility, starting at $78.7M USD and peaking at $497.2M USD in Q4'25, driven by key growth phases such as the sharp rise from $53.6M USD in Q2'24 to $238.4M USD in Q4'24. Year-over-year growth has been predominantly positive, averaging around 2-15% in early quarters before stabilizing at 0.1-3.5% in recent periods, with a minor contraction of -0.06% in Q4'24 as the only dip, underscoring resilient operational performance amid fluctuating margins.