Fortinet, Inc. Q1 Profit Increases, Beats Estimates

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

The company's bottom line came in at $433.4 million, or $0.56 per share. This compares with $299.3 million, or $0.39 per share, last year.

Excluding items, Fortinet, Inc. reported adjusted earnings of $452.3 million or $0.58 per share for the period.

Analysts on average had expected the company to earn $0.53 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 13.7% to $1.539 billion from $1.353 billion last year.

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

-Earnings: $433.4 Mln. vs. $299.3 Mln. last year. -EPS: $0.56 vs. $0.39 last year. -Revenue: $1.539 Bln vs. $1.353 Bln last year.

-Guidance: Next quarter EPS guidance: $0.58 to $0.60 Next quarter revenue guidance: $1.590 to $1.650 Bln Full year EPS guidance: $2.43 to $2.49 Full year revenue guidance: $6.650 to $6.850 Bln