Investor Alert

New York Markets Close in:

Market Pulse Archives

Aug. 6, 2020, 5:28 p.m. EDT

Fortinet stock declines as earnings top Street view but billings don't

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Fortinet Inc. (FTNT)

or Cancel Already have a watchlist? Log In

By Wallace Witkowski


Fortinet Inc. /zigman2/quotes/205733290/composite FTNT -0.36% shares fell in the extended session Thursday even after the cybersecurity company's results, with the exception of billings, topped Wall Street estimates. Fortinet shares dropped 6% after hours, following a 0.4% decline in the regular session to close at $139.51. The company reported second-quarter net income of $112.1 million, or 68 cents a share, compared with $72.7 million, or 42 cents a share, in the year-ago period. Adjusted earnings were 82 cents a share, compared with 58 cents a share in the year-ago quarter. Revenue rose to $615.5 million from $521.7 million in the year-ago quarter, and billings grew to $711.5 million from $622.4 million a year ago. Analysts surveyed by FactSet had forecast earnings of 65 cents a share on revenue of $599.1 million and billings of $712.1 million. Fortinet expects adjusted third-quarter earnings of 76 cents to 78 cents a share on revenue of $630 million to $645 million and billings of $705 million to $730 million. Analysts expect earnings of 72 cents a share on revenue of $623.5 million and billings of $707.9 million.

US : U.S.: Nasdaq
$ 116.85
-0.43 -0.36%
Volume: 112,095
Sept. 21, 2020 9:57a
P/E Ratio
Dividend Yield
Market Cap
$18.98 billion
Rev. per Employee

Get news alerts on Fortinet Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.