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Fortinet Q2 Earnings: Revenue Beat, EPS Beat, Strong Guidance And More
Fortinet Inc (NASDAQ:FTNT) reported second-quarter financial results after the market close on Tuesday. Here’s a look at the key numbers from the quarter.
Q2 Earnings: Fortinet’s second-quarter revenue increased 11% year-over-year to $1.43 billion, beating consensus estimates of $1.403 billion. The cybersecurity company reported second-quarter adjusted earnings of 57 cents per share, beating analyst estimates of 41 cents per share.
Fortinet said product revenue was down 4.4% year-over-year, while service revenue grew 19.8%. Billings were flat compared to the prior year’s quarter. Cash flow from operations came in at $342 million and free cash flow totaled $318.9 million during the quarter.
“In the second quarter, we ...