Fortinet Earnings, Revenue Guidance Meet Expectations, Stock Falls

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Fortinet first-quarter earnings and revenue beat analyst estimates, but June-quarter guidance merely met Wall Street targets. The Fortinet earnings news sent shares in the cybersecurity firm down in extended trading late Thursday. X Fortinet ( FTNT ) said adjusted earnings per share were 46 cents, up 39% from a year ago, with revenue rising 18% to $472.6 million. Analysts expected Fortinet earnings of 39 cents on sales of $471.8 million for the period ended March 31. For the current June quarter, Fortinet forecast revenue of $510 million at the midpoint of its guidance.

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