Fortinet (FTNT) reported earnings on Tue 7 Feb 23 (a/h)

 ** charts before earnings **

 

** charts after earnings **

 

Fortinet beats by $0.05, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY23 EPS in-line, revs above consensus 

• Reports Q4 (Dec) earnings of $0.44 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.39; revenues rose 33.1% year/year to $1.28 bln vs the $1.3 bln S&P Capital IQ Consensus.
• Co issues in-line guidance for Q1, sees EPS of $0.27-0.29, excluding non-recurring items, vs. $0.28 S&P Capital IQ Consensus; sees Q1 revs of $1.18-1.22 bln vs. $1.18 bln S&P Capital IQ Consensus.
  • Billings in the range of $1.415 billion to $1.465 billion
  • Non-GAAP gross margin in the range of 75.0% to 76.0%
  • Non-GAAP operating margin in the range of 23.0% to 24.0% 
• Co issues guidance for FY23, sees EPS of $1.39-1.41, excluding non-recurring items, vs. $1.39 S&P Capital IQ Consensus; sees FY23 revs of $5.37-5.43 bln vs. $5.35 bln S&P Capital IQ Consensus.
  • Billings in the range of $6.710 billion to $6.790 billion
  • Non-GAAP gross margin in the range of 75.0% to 76.0%
  • Non-GAAP operating margin in the range of 25.0% to 26.0%