Recap: Fortinet Q2 Earnings

Shares of Fortinet FTNT rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 15.85% year over year to $0.95, which beat the estimate of $0.88.

Revenue of $801,100,000 up by 30.15% year over year, which beat the estimate of $743,650,000.

Guidance

Fortninet Sees FY21 Revs $3.21B-$3.25B Vs $3.11B Est

Details Of The Call

Date: Jul 29, 2021

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/afyvdspr

Price Action

Company's 52-week high was at $277.00

Company's 52-week low was at $106.75

Price action over last quarter: Up 37.10%

Company Profile

Fortinet is a cybersecurity vendor that sells products, support, and services to small and midsize businesses, enterprises, and government entities. Its products include unified threat management appliances, firewalls, network security, and its security platform, Security Fabric. Services revenue is primarily from FortiGuard security subscriptions and FortiCare technical support. At the end of 2019, products were 37% of revenue and services were 63% of sales. The California-based company sells products worldwide, with the Americas representing 43% of sales in 2019.