Fortinet Shares Surge on Strong Q4 Earnings and Upbeat Guidance

Fortinet, Inc. (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, saw its shares jump by 9% in pre-market trading after releasing its fourth-quarter earnings. The company's financial performance exceeded Wall Street's expectations, providing a positive outlook that enthused investors.

The company announced it had achieved earnings of 51 cents per share, comfortably surpassing the consensus estimate of 43 cents per share—an 18.6% beat. In addition to the strong earnings report, Fortinet disclosed that its quarterly sales reached $1.42 billion, which also beat the expected $1.41 billion from analysts.

Looking forward, the cybersecurity giant provided guidance that forecasted its full-year 2024 revenue to be in the range of $5.71 billion to $5.81 billion, with an adjusted EPS (earnings per share) of between $1.65 and $1.70. Following the release of the financial results and future projections, Fortinet shares climbed to $73.80 during pre-market trading.

While Fortinet stood out with its impressive performance, the pre-market trading session saw other stocks making significant moves. Various other companies experienced notable gains, highlighting the dynamic nature of the stock market ahead of the official trading hours.

Fortinet, Earnings, Guidance