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Fortinet (FTNT) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended December 2022, Fortinet (FTNT - Free Report) reported revenue of $1.28 billion, up 33.2% over the same period last year. EPS came in at $0.44, compared to $0.25 in the year-ago quarter.
The reported revenue represents a surprise of -0.75% over the Zacks Consensus Estimate of $1.29 billion. With the consensus EPS estimate being $0.39, the EPS surprise was +12.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fortinet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total billings (Non-GAAP): $1.72 billion versus the eight-analyst average estimate of $1.70 billion.
Geographic Revenue-Americas: $521.20 million versus the three-analyst average estimate of $420.60 million.
Revenue-Europe Middle East and Africa: $510.10 million versus the three-analyst average estimate of $366.55 million. The reported number represents a year-over-year change of +37.6%.
Revenue-Total Product: $540.10 million versus the nine-analyst average estimate of $533.93 million. The reported number represents a year-over-year change of +42.5%.
Revenue-Services: $742.90 million versus $756.04 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +27.1% change.
Gross profit-Services: $635.50 million versus $652.05 million estimated by seven analysts on average.
Gross profit-Product: $350.20 million versus $321.91 million estimated by seven analysts on average.
Shares of Fortinet have returned +5.2% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Fortinet (FTNT) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2022, Fortinet (FTNT - Free Report) reported revenue of $1.28 billion, up 33.2% over the same period last year. EPS came in at $0.44, compared to $0.25 in the year-ago quarter.
The reported revenue represents a surprise of -0.75% over the Zacks Consensus Estimate of $1.29 billion. With the consensus EPS estimate being $0.39, the EPS surprise was +12.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fortinet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Fortinet here>>>
Shares of Fortinet have returned +5.2% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.