SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Fortinet Inc. (FTNT) on Thursday reported first-quarter profit of $247.7 million.
On a per-share basis, the Sunnyvale, California-based company said it had net income of 31 cents. Earnings, adjusted for one-time gains and costs, came to 34 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The network security company posted revenue of $1.26 billion in the period, also topping Street forecasts. Fourteen analysts surveyed by Zacks expected $1.2 billion.
For the current quarter ending in June, Fortinet expects its per-share earnings to range from 33 cents to 35 cents.
The company said it expects revenue in the range of $1.28 billion to $1.32 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.27 billion.
Fortinet expects full-year earnings in the range of $1.44 to $1.48 per share, with revenue ranging from $5.43 billion to $5.49 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNT
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
