Fortinet beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs above consensus; guides FY22 EPS above consensus, revs above consensus
- Reports Q3 (Sep) earnings of $0.33 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.27; revenues rose 32.6% year/year to $1.15 bln vs the $1.12 bln S&P Capital IQ Consensus.
- Product revenue of $468.7 million, up 39% year over year
- Service revenue of $680.8 million, up 28% year over year
- Billings of $1.41 billion, up 33% year over year
- Co issues upside guidance for Q4, sees EPS of $0.38-0.40, excluding non-recurring items, vs. $0.35 S&P Capital IQ Consensus; sees Q4 revs of $1.275-1.315 bln vs. $1.27 bln S&P Capital IQ Consensus.
- Billings in the range of $1.665 billion to $1.720 billion
- Co issues upside guidance for FY22, sees EPS of $1.13-1.15, excluding non-recurring items, vs. $1.05 S&P Capital IQ Consensus; sees FY22 revs of $4.41-4.45 bln vs. $4.38 bln S&P Capital IQ Consensus.
- Billings in the range of $5.540 billion to $5.595 billion