$FTNT (+0,63 %) - Fortinet Q2 Earnings:

• Adj. EPS: $0.57 (Est. $0.41)
• Revenue: $1.43B (Est. $1.4B) , UP +11% YoY
• Billings: $1.54B (Est. $1.52B)

Raised FY'24 Outlook:

• Adj EPS: $2.13-$2.19 (Est. $1.77)
• Revenue: $5.8B-$5.9B (Prev: $5.75B-$5.85B, Est. $5.8B)
• Billings: $6.400B-$6.600B (Est. $6.51B)
• Service Revenue: $3.98B-$4.03B (Previous: $3.94B-$3.99B, Est. $3.98B)
• Adj Gross Margin: 79%-80% (Prev: 76.5%-78%, Est. 77.4%)
• Adj Operating Margin: 30%-31.5% (Prev: 26.5%-28%, Est. 27.5%)

Q3'24 Outlook:

• Revenue: $1.445B-$1.505B (Est. $1.47B)
• Billings: $1.530B-$1.600B (Est. $1.58B)
• Adjusted EPS: $0.56-$0.58 (Est. $0.43)
• Adjusted Gross Margin: 79%-80% (Est. 77.1%)
• Adjusted Operating Margin: 30.5%-31.5% (Est. 26.7%)

Segments Performance:

• Service: $982.4M (Est. $973.2M) ; UP +20% YoY-
• Product: $451.9M (Est. $430.8M) ; DOWN -4.4% YoY
• Deferred Revenue: $5.90B (Est. $5.92B) ; UP +15% YoY

Additional Metrics:

• Adj Operating Margin: 35.1% (Est. 26.6%)
• GAAP Net Income: $379.8M (Q2'23: $266.3M)
• Free Cash Flow: $318.9M (Q2'23: $438.3M)

Business Highlights:

• Non-GAAP Operating Margin: 35.1% (Q2'23: 26.9%)
• Continuing investments in Unified SASE and Security Operations markets.
• Recognized in five different network security Gartner Magic Quadrant reports.