Fortinet Shares Gain 5% on Q1 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/FTNT'>Fortinet (NASDAQ:FTNT)</a> shares surged more than 5% on Friday after the company reported its Q1 earnings results, with EPS coming in at $0.34, above the Street estimate of $0.29. Revenue was $1.26 billion, beating the Street estimate of $1.2 billion.</p>
<p>Results were highlighted by over 35% product growth, 31% service revenue growth (first time above 30% in six years), the eighth consecutive quarter of 30% billings growth, and adjusted Free Cash flow margin of 52%, the highest as a public company. </p>
<p>Results continue to benefit from broad-based strength around expanding firewall deployment environments, convergence of security and networking, and increasing vendor and product functionality consolidation.</p>

NASDAQ:FTNT