earnings
confidence high
sentiment positive
materiality 0.85
Fortinet Q2 revenue $1.43B (+11% YoY); record operating margins; raises 2024 guidance
Fortinet, Inc.
2024-Q2 EPS reported
$0.88
revenue$2,787,600,000
- Total revenue $1.43B (+11% YoY); record GAAP operating margin 30.5% and non-GAAP 35.1%.
- Service revenue $982M (+20% YoY), product revenue $451.9M (-4.4% YoY); billings flat at $1.54B.
- GAAP EPS $0.49, non-GAAP EPS $0.57, both up from $0.33/$0.38 YoY.
- Raises FY2024 revenue guidance to $5.8B-$5.9B, non-GAAP operating margin to 30.0%-31.5%.
- Cash flow from operations $342M vs $515M YoY; free cash flow $318.9M vs $438.3M.