Fortinet (NASDAQ:FTNT) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:05 PM.
Here's what investors need to know about the announcement.
Earnings
Fortinet beat estimated earnings by 18.99%, reporting an EPS of $0.94 versus an estimate of $0.79.
Revenue was up $244.50 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.08 which was followed by a 5.84% increase in the share price the next day.
Here's a look at Fortinet's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.15 | 0.94 | 0.88 | 0.74 |
| EPS Actual | 1.23 | 0.99 | 0.95 | 0.81 |
| Revenue Estimate | 960.46M | 811.13M | 743.65M | 681.32M |
| Revenue Actual | 963.60M | 867.20M | 801.10M | 710.30M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Fortinet management provided guidance for FY 2022, expecting earnings between $5.0 and $5.15 per share.
To track all earnings releases for Fortinet visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
