Fortinet, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Fortinet, Inc. (FTNT) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $299.3 million, or $0.39 per share. This compares with $247.7 million, or $0.31 per share, in last year's first quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $333.9 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $1.35 billion from $1.26 billion last year.

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

-Earnings (Q1): $299.3 Mln. vs. $247.7 Mln. last year. -EPS (Q1): $0.39 vs. $0.31 last year. -Revenue (Q1): $1.35 Bln vs. $1.26 Bln last year.

-Guidance: Next quarter EPS guidance: $0.39 to $0.41 Next quarter revenue guidance: $1.375 to $1.435 Bln Full year EPS guidance: $1.73 to $1.79 Full year revenue guidance: $5.745 to $5.845 Bln