Fortinet Inc. (FTNT) reported strong third-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year. Fortinet reported third-quarter 2024 non-GAAP earnings per share (EPS) of 63 cents, which beat the Zacks Consensus Estimate by 23.53%. The bottom line climbed 53.7% from the year-ago quarter's earnings of 41 cents. Total revenues of $1.51 billion beat the consensus mark by 2.1% and improved 13% year over year, driven by strong growth in servi ...

Fortinet, Inc. (NASDAQ:FTNT) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Aaron Ovadia - Director of Investor Relations Ken Xie - Founder, Chairman & Chief Executive Officer Keith Jensen - Chief Financial Officer Christian Agard - Sales Operations Leader John Whittle - Chief Operating Officer Conference Call Participants Hamza Fodderwala - Morgan Stanley Brian Essex - JPMorgan Fatima Boolani - Citi Saket Kalia - Barclays Gabriela Borges - Goldman Sachs Shaul Eyal - TD Co ...

Fortinet (FTNT) reported $1.51 billion in revenue for the quarter ended September 2024, representing a yearover-year increase of 13%. EPS of $0.63 for the same period compares to $0.41 a year ago. The reported revenue represents a surprise of +2.09% over the Zacks Consensus Estimate of $1.48 billion. With the consensus EPS estimate being $0.51, the EPS surprise was +23.53%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Fortinet (FTNT) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 23.53%. A quarter ago, it was expected that this network security company would post earnings of $0.41 per share when it actually produced earnings of $0.57, delivering a surprise of 39.02%. Over the last four quarters, t ...

Press Release Fortinet Reports Third Quarter 2024 Financial Results Highlights • Total revenue up 13% year over year; service revenue up 19% year over year • Billings and product revenue returns to growth • Strong billings growth in Unified SASE and Security Operations • Record GAAP operating margin of 31.2% • Record Non-GAAP operating margin of 36.1% • Cash flow from operations of $608 million; Free cash flow of $572 million • Raising 2024 revenue and non-GAAP operating margin guidance • Share repurchase a ...

Highlights Total revenue up 13% year over year; service revenue up 19% year over yearBillings1 and product revenue returns to growthStrong billings growth in Unified SASE and Security OperationsRecord GAAP operating margin of 31.2%Record Non-GAAP operating margin of 36.1%1Cash flow from operations of $608 million; Free cash flow of $572 million1Raising 2024 revenue and non-GAAP operating margin guidanceShare repurchase authorization increased by $1 billion; remaining authorization of $2 billion SUNNYVALE, C ...

Fortinet Inc FTNT will be reporting its third-quarter earnings on Thursday. Wall Street expects 52 cents in EPS and $1.48 billion in revenues as the company reports after market hours.The stock is up 60.85% over the past year, and 39.47% year-to-date.Fortinet Stock Rides Cyber Demand Boom With AI & IAM FocusFortinet's stock performance has been bolstered by its strong positioning in the expanding cybersecurity market, particularly as demand for identity and access management (IAM) solutions grows. With the ...

Fortinet (FTNT) is scheduled to report third-quarter 2024 results on Nov. 7, after market close.The cybersecurity firm projects revenues between $1.445 billion and $1.505 billion. The Zacks Consensus Estimate for the same is pegged at $1.48 billion, suggesting year-over-year growth of 10.69%.The company forecasts third-quarter non-GAAP earnings in the range of 56-58 cents per share. The consensus mark for earnings is pegged at 51 cents per share, implying a rise of 24.39% from the year-ago figure of 41 cent ...

SUNNYVALE, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence at Fortinet “In today’s interconnected world, the fight against cybercrime requires a unified front. Public-private partnerships are vital for sharing threat intelligence, resources, and innovations that collectively help organizations worldwide stay ahead of digital adversaries. The World Economic Forum’s Annual Meeting on Cybersecurity continues to offer a unique opportunity fo ...

Fortinet (FTNT) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing earn ...