SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Fortinet Inc. (FTNT) on Thursday reported first-quarter profit of $299.3 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 39 cents. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The network security company posted revenue of $1.35 billion in the period, which also topped Street forecasts. Fourteen analysts surveyed by Zacks expected $1.33 billion.
For the current quarter ending in June, Fortinet expects its per-share earnings to range from 39 cents to 41 cents.
The company said it expects revenue in the range of $1.38 billion to $1.44 billion for the fiscal second quarter.
Fortinet expects full-year earnings in the range of $1.73 to $1.79 per share, with revenue ranging from $5.75 billion to $5.85 billion.
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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
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