Fortinet: Q3 Earnings Insights

Shares of Fortinet FTNT were unchanged in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 31.34% over the past year to $0.88, which beat the estimate of $0.78.

Revenue of $651,100,000 rose by 18.92% year over year, which beat the estimate of $639,020,000.

Outlook

Fortinet Sees Q4 Sales $710M-$730M Vs $707.58M Estimates, EPS $0.95-$0.97 Vs $0.87 Estimates

Conference Call Details

Date: Oct 29, 2020

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/9wzyemo6

Recent Stock Performance

Company's 52-week high was at $151.95

52-week low: $70.20

Price action over last quarter: down 6.87%

Company Overview

Fortinet is a cybersecurity vendor that sells products, support, and services to small and midsize businesses, enterprises, and government entities. Its products include unified threat management appliances, firewalls, network security, and its security platform, Security Fabric. Services revenue is primarily from FortiGuard security subscriptions and FortiCare technical support. At the end of 2019, products were 37% of revenue and services were 63% of sales. The California-based company sells products worldwide, with the Americas representing 43% of sales in 2019.