Fortinet Q1 revenue up 7% to $1.35B, product revenue falls 18%, non-GAAP EPS $0.43

Fortinet, Inc.

2024-Q1 EPS reported $0.39 revenue$1,353,300,000

Total revenue $1.35B (+7% YoY); service revenue $944M (+24%) offset product revenue $409M (-18%).
GAAP net income $299M ($0.39 diluted EPS); non-GAAP net income $334M ($0.43 diluted EPS).
Billings $1.41B (-6.4% YoY); deferred revenue $5.79B (+18.6%).
Q2 guidance: revenue $1.375B-$1.435B, non-GAAP EPS $0.39-$0.41.
FY2024 guidance: revenue $5.745B-$5.845B, non-GAAP EPS $1.73-$1.79.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Fortinet, Inc. reported first quarter ended March 31, 2024 results: revenue Total revenue was $1.35 billion, net income GAAP net income was $299.3 million, EPS GAAP diluted net income per share was $0.39.

Period: first quarter ended March 31, 2024
Revenue: Total revenue was $1.35 billion
Net income: GAAP net income was $299.3 million
EPS: GAAP diluted net income per share was $0.39
Result: reported results

Exact text from the filing

Fortinet Reports First Quarter 2024 Financial Results First Quarter 2024 Highlights • Total revenue of $1.35 billion, up 7% year over year

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Fortinet, Inc. filing history →

Source: SEC EDGAR

accession 0001262039-24-000017

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