Fortinet, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Fortinet, Inc. (FTNT) revealed earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $231.6 million, or $0.29 per share. This compares with $163.1 M, or $0.19 per share, in last year's third quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $262.7 M or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.6% to $1.15 billion from $867.2 million last year.

Fortinet, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $231.6 Mln. vs. $163.1 M. last year. -EPS (Q3): $0.29 vs. $0.19 last year. -Analyst Estimate: $0.27 -Revenue (Q3): $1.15 Bln vs. $867.2 Mln last year.

-Guidance: Next quarter EPS guidance: $0.38 - $0.40 Next quarter revenue guidance: $1.275-$1.315Bln Full year EPS guidance: $1.13 - $1.15 Full year revenue guidance: $4.410-$4.450Bln