FX.co ★ Fortinet, Inc. Q1 Profit Increases, beats estimates

Fortinet, Inc. (FTNT) announced first-quarter profits that not only showed a year-over-year increase but also surpassed market expectations.

The company has posted a profit of $299.3 million, or $0.39 per share, a boost from the previous year's first quarter when they made $247.7 million, or $0.31 per share.

With exceptional items excluded, Fortinet's adjusted earnings for the period stood at $333.9 million or $0.43 per share.

On average, the market had predicted the company's earnings to be $0.38 per share, according to data gathered by Thomson Reuters, though this figure typically disregards unique items.

As for the company's quarterly revenue, it saw a 7.1% rise, climbing to $1.35 billion from last year's $1.26 billion.

A brief review of the Fortinet's earnings (as per GAAP) is as follows:

- First quarter earnings: $299.3 million vs. $247.7 million from last year.

- First quarter Earnings Per Share (EPS): $0.39 vs. $0.31 from the previous year.

- First quarter revenue: $1.35 billion vs. $1.26 billion from last year.

The company has also projected its guidance for the next quarter and the full year.

- Next quarter EPS guidance: $0.39 to $0.41

- Next quarter revenue guidance: $1.375 to $1.435 billion

- Full-year EPS guidance: $1.73 to $1.79

- Full-year revenue guidance: $5.745 to $5.845 billion.