Fortinet Sees Q3 Adj. EPS $0.35-$0.37 vs $0.36 Est., Revenue $1.315B-$1.375B vs $1.38B Est.; Sees FY23 Adj. EPS $1.49-$1.53 vs $1.46 Est., Revenue $5.35B-$5.45B vs $5.47B Est.
Portfolio Pulse from Benzinga Newsdesk
Fortinet has released its Q3 and FY23 earnings guidance. The company expects Q3 adjusted EPS to be between $0.35 and $0.37, compared to the estimated $0.36, and revenue to be between $1.315B and $1.375B, compared to the estimated $1.38B. For FY23, Fortinet expects adjusted EPS to be between $1.49 and $1.53, compared to the estimated $1.46, and revenue to be between $5.35B and $5.45B, compared to the estimated $5.47B.
August 04, 2023 | 2:46 pm
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NEGATIVE IMPACT
Fortinet's Q3 and FY23 earnings guidance is slightly below the estimates. This could potentially impact the company's stock negatively in the short term.
Fortinet's projected earnings and revenue for Q3 and FY23 are slightly below the estimates. This could lead to a negative sentiment among investors, potentially causing a short-term decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100