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

Fortinet Q3 revenue rises 13% to $1.51 billion and raises 2024 revenue guidance

Positive Impact 4 of 5 earnings Written later

Fortinet reported third-quarter 2024 results on November 7, 2024, with total revenue of $1.51 billion, up 13.0% from a year earlier, and GAAP diluted earnings of $0.70 per share, up from $0.41. The company raised its 2024 revenue and non-GAAP operating margin guidance and increased its share repurchase authorization by $1 billion, which leaves about $2.03 billion available for buybacks.

Key points

  • Total revenue was $1.51 billion, up 13.0% from $1.33 billion in Q3 2023; service revenue rose 19.1%.
  • GAAP net income was $539.9 million, compared with $322.9 million in Q3 2023; GAAP diluted EPS was $0.70 versus $0.41.
  • Fiscal 2024 revenue guidance is $5.856 billion to $5.916 billion, and non-GAAP operating margin guidance is 32.9% to 33.9%.
  • As of November 7, 2024, about $2.03 billion remained available for share repurchases.

The filing

CompanyFortinet (FTNT)
Form8-K, current report
Filed with the SECNov 7, 2024, 4:10 PM ET
Accession number0001262039-24-000040

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 November 07, 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.