Fortinet Q2 revenue $1.03B (+29% YoY); bookings up 42% to $1.38B; guides Q3 rev $1.105-1.135B

Fortinet, Inc.

2022-Q2 EPS reported $0.38 revenue$1,984,900,000

Product revenue $400.7M (+34% YoY); service revenue $629.4M (+25% YoY).
GAAP diluted EPS $0.21; non-GAAP diluted EPS $0.24.
Cash from ops $323.4M; free cash flow $283.5M; repurchased $800M in shares.
Board authorized $1.0B increase in share repurchase program; ~$1.03B remaining.
Q3 guidance: rev $1.105-1.135B, billings $1.385-1.415B, non-GAAP EPS $0.26-0.28.

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