Fortinet Reports Third Quarter 2024 Financial Results
Portfolio Pulse from
Fortinet reported strong Q3 2024 financial results with a 13% increase in total revenue and a 19% rise in service revenue year-over-year. The company achieved record GAAP and Non-GAAP operating margins and raised its 2024 revenue and margin guidance. Additionally, Fortinet increased its share repurchase authorization by $1 billion.
November 07, 2024 | 9:15 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Fortinet reported a 13% increase in total revenue and a 19% rise in service revenue for Q3 2024. The company achieved record operating margins and raised its 2024 revenue and margin guidance. It also increased its share repurchase authorization by $1 billion.
The strong financial performance, including revenue growth and record margins, is likely to positively impact Fortinet's stock price. The increased share repurchase authorization signals confidence in the company's future, further supporting a positive outlook.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100