Fortinet reports 20% Q3 revenue growth and raises guidance, shares tumble 20%
Fortinet posted third‑quarter revenue of $2.08 billion, up 20% year over year, and product revenue rose 37% to $765 million. The company announced new AI security partnerships with Nvidia, Oracle and Microsoft and lifted its full‑year revenue outlook to $8.125‑$8.215 billion. Despite the beat and the raised guidance, the stock fell about 20% on the day after the release.
Why it matters
The share decline means investors who bought before the earnings release face an immediate loss, while the higher guidance could support the price if the market reassesses growth prospects. The new AI partnerships may broaden Fortinet’s addressable market and drive future revenue.
Key facts
- 1Q3 revenue was $2.08 billion, up 20% YoY. biz.chosun.com
- 2Product revenue grew 37% to $765 million. biz.chosun.com
- 3GAAP operating margin was 34% and non‑GAAP margin was 38%. biz.chosun.com
- 4Fortinet guided Q4 revenue to $2.155‑$2.245 billion. biz.chosun.com
- 5Full‑year revenue guidance was raised to $8.125‑$8.215 billion, about 20% growth YoY. finance.biggo.com
- 6Shares fell roughly 20% after the earnings release, closing at $139.10, down $34.98. finance.biggo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.