Fortinet: Q1 Earnings Insights

Fortinet: Q1 Earnings Insights

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.

Earnings

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.

Past Earnings Performance

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

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).

Guidance

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.

Posted In: BZI-RecapsEarnings