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

Fortinet FTNT reported its Q1 earnings results on Thursday, May 4, 2023 at 04:05 PM.

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

Fortinet beat estimated earnings by 17.24%, reporting an EPS of $0.34 versus an estimate of $0.29.

Revenue was up $307.20 million from the same period last year.

Last quarter the company beat on EPS by $0.05 which was followed by a 10.9% increase in the share price the next day.

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

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	0.39	0.27	0.22	0.16
EPS Actual	0.44	0.33	0.24	0.19
Revenue Estimate	1.29B	1.12B	1.03B	884.17M
Revenue Actual	1.28B	1.15B	1.03B	954.80M

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 2023, expecting earnings between $1.44 and $1.48 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.