Fortinet: Q1 Earnings Insights - Fortinet (NASDAQ:FTNT)

Fortinet FTNT reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:05 PM.

Here's what investors need to know about the announcement.

Fortinet beat estimated earnings by 18.99%, reporting an EPS of $0.94 versus an estimate of $0.79.

Revenue was up $244.50 million from the same period last year.

Last quarter the company beat on EPS by $0.08 which was followed by a 5.84% increase in the share price the next day.

Here's a look at Fortinet's past performance:

Quarter	Q4 2021	Q3 2021	Q2 2021	Q1 2021
EPS Estimate	1.15	0.94	0.88	0.74
EPS Actual	1.23	0.99	0.95	0.81
Revenue Estimate	960.46M	811.13M	743.65M	681.32M
Revenue Actual	963.60M	867.20M	801.10M	710.30M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Fortinet management provided guidance for FY 2022, expecting earnings between $5.0 and $5.15 per share.

To track all earnings releases for Fortinet visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.