Fortinet Q3 revenue $867M (+33% YoY); billings exceed $1B for first time

Fortinet, Inc.

2021-Q3 EPS reported $2.44 revenue$2,378,600,000

Product revenue $337M (+51% YoY); service revenue $530M (+24% YoY).
GAAP EPS $0.97; non-GAAP EPS $0.99; cash flow from ops $398.8M.
Board authorized $1.25B increase in share repurchase program (total ~$2B remaining).
Q4 revenue guidance $940M-$970M; non-GAAP EPS $1.10-$1.15.
FY2021 revenue guidance raised to $3.32B-$3.35B; billings $4.04B-$4.09B.

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