earnings
confidence high
sentiment positive
materiality 0.70
Fortinet corrects non-GAAP EPS guidance for Q3 and FY 2024; raises revenue and margin outlook
Fortinet, Inc.
2024-Q2 EPS reported
$0.88
revenue$2,787,600,000
- Corrected non-GAAP EPS guidance: Q3 $0.50-$0.52, FY 2024 $2.00-$2.04 (17% tax rate, ~772M diluted shares).
- FY 2024 revenue guidance raised to $5.800B-$5.900B; non-GAAP op margin guidance raised to 30.0%-31.5%.
- Q2 2024: revenue $1.43B (+11% YoY); product rev -4.4%; service rev +19.8% to $982M.
- Record Q2 GAAP op margin 30.5%, non-GAAP op margin 35.1% (+820bps YoY).
- Q2 GAAP diluted EPS $0.49, non-GAAP diluted EPS $0.57; cash from ops $342M.