Fortinet Q3 Earnings: Revenue Beat, EPS Beat, Billings Up 6%, Shares Slide

Fortinet Inc (NASDAQ:FTNT) reported third-quarter financial results after the market close on Thursday. Here’s a rundown of the cybersecurity company’s quarterly report.

Q3 Earnings: Fortinet reported third-quarter revenue of $1.51 billion, beating the consensus estimate of $1.48 billion. The cybersecurity company reported third-quarter adjusted earnings of 63 cents per share, beating analyst estimates of 52 cents per share.

Fortinet’s total revenue was up 13% year-over-year. Product revenue was up 1.7% year-over-year at $473.9 million. Service revenue grew 19.1%. year-over-year to $1.03 billion. Billings of $1.58 billion were up ...

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