Recap: Fortinet Q1 Earnings

Shares of Fortinet FTNT rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 35.00% over the past year to $0.81, which beat the estimate of $0.74.

Revenue of $710,300,000 up by 23.12% year over year, which beat the estimate of $681,320,000.

Looking Ahead

Fortinet Sees FY21 Adj. EPS $3.65-$3.80 vs $3.72 Estimate, Sales $3.08B-$3.13B, Billings $3.685B-$3.745B

How To Listen To The Conference Call

Date: Apr 29, 2021

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/pgsar8ph

Recent Stock Performance

52-week high: $209.39

Company's 52-week low was at $103.76

Price action over last quarter: Up 25.72%

Company Description

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.