Copyright Benzinga
Fortinet Inc (NASDAQ:FTNT) reported financial results for the third quarter after the market close on Wednesday. Here's a look at the key details from the report. FTNT is feeling the pressure from bearish momentum. Get the latest updates here. Q3 Earnings: Fortinet reported third-quarter revenue of $1.73 billion, beating the consensus estimate of $1.70 billion. The cybersecurity company posted third-quarter adjusted earnings of 74 cents per share, beating analyst estimates of 63 cents per share, according to Benzinga Pro. Total revenue was up 14% year-over-year. Product revenue came in at $559.3 million, up 18% year-over-year, and service revenue totaled $1.17 billion. Third-quarter billings were up 14% year-over-year to $1.81 billion. Fortinet ended the quarter with approximately $2 billion in total cash and cash equivalents. “We are pleased with our excellent third quarter results, driven by our leading innovation and customer-first culture resulting in broad-based demand for our solutions across organizations of all sizes,” said Ken Xie, founder, chairman and CEO of Fortinet. What’s Next: Fortinet expects fourth-quarter revenue to be in the range of $1.825 billion to $1.885 billion versus estimates of $1.876 billion. The company anticipates fourth-quarter adjusted earnings of 73 cents to 75 cents per share versus estimates of 67 cents per share. Fortinet narrowed its full-year 2025 revenue guidance from a range of $6.68 billion to $6.83 billion to a new range of $6.72 billion to $6.78 billion, versus estimates of $6.75 billion. The company also raised its full-year 2025 adjusted earnings guidance. Fortinet now expects full-year earnings of $2.66 to $2.70 per share, up from prior estimates of $2.47 to $2.53 per share. Analysts are looking for full-year earnings of $2.52 per share. FTNT Price Action: Fortinet shares were down 10.11% in after-hours, trading at $77.30 at the time of publication on Wednesday, according to Benzinga Pro. Image: JHVEPhoto/Shutterstock.com
