Fortinet (FTNT, Financial), a leading cybersecurity company, saw its shares rise nearly 8% in premarket trading. The company reported impressive financial results for the fourth quarter of 2024, with adjusted earnings per share reaching $0.68, a 33% increase compared to the previous year. This result surpassed analysts' expectations of $0.61 per share.
Fortinet's revenue also experienced significant growth, increasing by 17% year-over-year to $1.66 billion, exceeding the anticipated $1.595 billion by analysts. The company's strong performance highlights its robust market position and the growing demand for cybersecurity solutions.
Looking ahead, Fortinet has provided optimistic revenue guidance for 2025, projecting between $6.65 billion and $6.85 billion. This forecast is above the analysts' consensus estimate of $6.62 billion, indicating the company's confidence in its continued growth trajectory.
