Fortinet, Inc. Q3 Profit Increases, Beats Estimates

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

The company's earnings came in at $539.9 million, or $0.70 per share. This compares with $322.9 million, or $0.41 per share, in last year's third quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $487.6 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $1.508 billion from $1.334 billion last year.

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

-Earnings (Q3): $539.9 Mln. vs. $322.9 Mln. last year. -EPS (Q3): $0.70 vs. $0.41 last year. -Revenue (Q3): $1.508 Bln vs. $1.334 Bln last year.

-Guidance: Next quarter EPS guidance: $0.58 to $0.62 Next quarter revenue guidance: $1.560-$1.620 bln Full year EPS guidance: $2.20 to $2.28 Full year revenue guidance: $5.856-$5.916 bln