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AI brief of an SEC Form 8-K · Fortinet (FTNT)

Fortinet Q4 revenue rises 10.3% to $1.42 billion; full-year 2024 revenue outlook issued

Positive Impact 3 of 5 earnings Written later

Fortinet reported fourth-quarter 2023 revenue of $1.42 billion, up 10.3% from a year earlier, and full-year 2023 revenue of $5.30 billion, up 20%. GAAP diluted earnings per share were $0.40 in the quarter, flat year over year, while full-year GAAP diluted earnings per share rose 38% to $1.46. The company also gave first-quarter and full-year 2024 guidance, including full-year 2024 revenue of $5.715 billion to $5.815 billion.

Key points

  • Q4 2023 revenue of $1.42 billion, up 10.3%; product revenue fell 9.6% to $488.1 million while service revenue rose 24.8% to $927.0 million
  • Full-year 2023 GAAP diluted EPS of $1.46, up 38%; Q4 GAAP diluted EPS of $0.40, unchanged from the prior-year quarter
  • Q1 2024 revenue guidance of $1.300 billion to $1.360 billion; full-year 2024 revenue guidance of $5.715 billion to $5.815 billion
  • Share repurchases of $1.50 billion in 2023; about $1.03 billion remained available as of February 6, 2024

The filing

CompanyFortinet (FTNT)
Form8-K, current report
Filed with the SECFeb 6, 2024, 4:10 PM ET
Accession number0001262039-24-000006

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 06, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.