Fortinet, Inc. reports results for the quarter ended September 30 - Earnings Summary

• Fortinet, Inc. reported quarterly adjusted earnings of 91 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 74 cents. The mean expectation of thirty nine analysts for the quarter was for earnings of 86 cents per share. Wall Street expected results to range from 84 cents to 92 cents per share.

• Revenue rose 20.5% to $2.08 billion from a year ago; analysts expected $2.06 billion.

• Fortinet, Inc.'s reported EPS for the quarter was 86 cents​.

• The company reported quarterly net income of $635.5 million.

• Fortinet, Inc. shares had risen by 3.5% this quarter and gained 133.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 7.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy," 30 "hold" and 7 "sell" or "strong sell." The average consensus recommendation for the software peer group is "buy."

• Wall Street's median 12-month price target for Fortinet, Inc. is $165.00, about 12.1% below its last closing price of $185.00

This summary was machine generated from LSEG data October 28 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)