Fortinet, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Fortinet, Inc. (FTNT) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $247.7 million, or $0.31 per share. This compares with $138.4 million, or $0.17 per share, in last year's first quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $269.7 million or $0.34 per share for the period.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.0% to $1.26 billion from $954.8 million last year.

Fortinet, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $247.7 Mln. vs. $138.4 Mln. last year. -EPS (Q1): $0.31 vs. $0.17 last year. -Analyst Estimate: $0.29 -Revenue (Q1): $1.26 Bln vs. $954.8 Mln last year.

-Guidance: Next quarter EPS guidance: $0.33 - $0.35 Next quarter revenue guidance: $1.280 - $1.320 Bln Full year EPS guidance: $1.44 - $1.48 Full year revenue guidance: $5.425 - $5.485 Bln