Fortinet's Mixed Q3 Results Sends Stock Falling After-Hours - Here's Why
Portfolio Pulse from Ryan Gustafson
Fortinet, Inc. (NASDAQ:FTNT) reported mixed Q3 results, beating earnings per share estimates but missing on sales. The company also issued Q4 and full-year 2023 guidance, with earnings per share and revenue estimates slightly below consensus. The company's shares fell 15.60% in after-hours trading.
November 02, 2023 | 8:28 pm
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Fortinet's Q3 earnings beat estimates but sales missed, and the company's Q4 and FY2023 guidance is slightly below consensus. This led to a 15.60% drop in the company's shares in after-hours trading.
Fortinet's mixed Q3 results, with earnings beating estimates but sales missing, and the company's lower-than-expected Q4 and FY2023 guidance, are likely to negatively impact investor sentiment and put downward pressure on the stock in the short term.
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