earnings
confidence high
sentiment positive
materiality 0.80
Fortinet Q3 revenue $1.51B (+13% YoY), record non-GAAP op margin 36.1%, raises FY2024 guidance
Fortinet, Inc.
2024-Q3 EPS reported
$1.58
revenue$4,295,700,000
- GAAP net income $539.9M ($0.70 EPS) vs $322.9M ($0.41 EPS) a year ago; non-GAAP EPS $0.63 vs $0.41.
- Revenue $1.51B (+13% YoY), service revenue $1.03B (+19.1%), product revenue $473.9M (+1.7%).
- Record GAAP operating margin 31.2% and non-GAAP operating margin 36.1%, up from 22.7% and 27.8% respectively.
- Board authorized $1B increase in share repurchase; remaining authorization $2.03B as of Nov 7.
- Raised FY2024 revenue guidance to $5.856-5.916B and non-GAAP op margin to 32.9-33.9% from prior.