Fortinet Q3 Profit Rises as Revenue Climbs 20.5% to $2.08 Billion; Issues Strong Guidance

Fortinet, Inc. (FTNT) reported a third-quarter profit of $635.5 million, or $0.86 per share, up from $473.9 million, or $0.62 per share, in the same period last year. Revenue for the quarter rose 20.5% to $2.078 billion from $1.724 billion a year earlier. Excluding items, the cybersecurity company posted adjusted earnings of $678.6 million, or $0.91 per share. Looking ahead, Fortinet guided next-quarter earnings to $0.93 to $0.95 per share on revenue of $2.155 billion to $2.245 billion. For the full year, the company forecast earnings of $3.54 to $3.58 per share and revenue of $8.125 billion to $8.215 billion.