Fortinet on Wednesday reported second-quarter earnings, revenue and billings that edged by estimates while June-quarter guidance roughly met expectations, underwhelming investors. Fortinet stock fell in extended trading.
Fortinet earnings were released after the market close on Wednesday. Fortinet earnings in the June quarter rose 12% to 64 cents on an adjusted basis. Including acquisitions, revenue climbed 14% to $1.63 billion.
Analysts expected Fortinet earnings of 59 cents a share on sales of $1.625 billion.
Additionally, the Sunnyvale, Calif.-based firm said billings, a sales growth metric, rose 15% to $1.78 billion, compared with analyst estimates of $1.722 billion.
Guidance Underwhelms
For the current September quarter, Fortinet forecast revenue of $1.7 billion at the midpoint of guidance vs. estimates of $1.71 billion.
Also, Fortinet expects billings of $1.8 billion vs. estimates of $1.793 billion.
On the stock market today, Fortinet stock rallied initially before falling. Shares were last down more than 15% to 82 in extended trading. Heading into the Fortinet earnings report, the cybersecurity stock was up 2% in 2025.
The company competes in the firewall network security market against Palo Alto Networks, Check Point Software Technologies and others. Firewalls block online intrusions and monitor web-based apps.
Palo Alto plans to buy CyberArk for $25 billion. Check Point Q2 earnings also underwhelmed investors.
Fortinet Stock: Technical Ratings
Fortinet and many other cybersecurity firms are focused on a new growth market: Secure Access Service Edge. SASE offers a fast and cost-effective way of securing an organization's branch offices and remote workers.
Fortinet stock holds a Composite Rating of 90 out of a best-possible 99, according to IBD Stock Checkup.
Meanwhile, Fortinet stock holds an Accumulation/Distribution Rating of D. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. (A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.)
The Computer Software-Security group ranks No. 82 out of 197 industry groups that IBD tracks.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
