Fortinet: 3Q Earnings Snapshot

SUNNYVALE, Calif. (AP) _ Fortinet Inc. (FTNT) on Thursday reported third-quarter net income of $58.7 million.

On a per-share basis, the Sunnyvale, California-based company said it had profit of 33 cents. Earnings, adjusted for one-time gains and costs, were 44 cents per share.

The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The network security company posted revenue of $453.9 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $451.1 million.

For the current quarter ending in December, Fortinet expects its per-share earnings to range from 50 cents to 52 cents.

The company said it expects revenue in the range of $490 million to $500 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $491.5 million.

Fortinet expects full-year earnings in the range of $1.72 to $1.76 per share, with revenue ranging from $1.79 billion to $1.8 billion.

Fortinet shares have climbed 92 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $83.69, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNT