Strong Growth and Weak Guidance for Fortinet

Strong Growth and Weak Guidance for Fortinet

Cybersecurity company Fortinet (NASDAQ: FTNT) reported its third-quarter results after the market closed on Oct. 26. Both revenue and profits surged, driven by strong double-digit growth in service revenue, and free cash flow generation doubled. The company’s guidance was a touch on the light side, though, with revenue growth expected to slow down during the fourth quarter. Here’s what investors need to know about Fortinet’s third-quarter results. Metric Q3 2017 Q3 2016 Year-Over-Year Change Revenue $374.2 million $316.6 million 18.2% Net income $26.6 million $6.3 million 322% Non-GAAP EPS $0.28 $0.18 55.6% Fortinet’s service revenue grew by 26% year […]