Fortinet Reports Third Quarter 2019 Financial Results
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Fortinet (FTNT) Tops Q3 EPS by 11c, Revenues Beat; Offers Q4 & FY19 EPS/Revenue Guidance Above Consensus
October 31, 2019 4:21 PM EDTFortinet (NASDAQ: FTNT) reported Q3 EPS of $0.67, $0.11 better than the analyst estimate of $0.56. Revenue for the quarter came in at $547.5 million versus the consensus estimate of $532.52 million.
Third Quarter 2019 Highlights
Total revenue of $547.5 million, up 21% year over yearProduct revenue of $197.1 million, up 20% year over yearBillings of $626.6 million, up 19% year over year1Deferred revenue of $1.95 billion, up 26% year over yearGAAP operating margin of 18%, up 450 basis points year over yearNon-GAAP operating margin of 26%, up 250 basis points year over year1GAAP diluted net income per... More