Fortinet (FTNT): Q3 2019 Earnings Snapshot

— Fortinet (NASDAQ: FTNT) reported third-quarter 2019 earnings of $0.67 per share, vs. $0.56 per share expected.

— Total revenue grew 21% to $547.5 million, vs $532.52 million expected.

— Billings grew 19% to $626.6 million. Product revenue was $197.1 million, an increase of 20%.

— For Q4, expects revenues of $595-610 million. Adjusted EPS projected in the range of $0.69 to $0.71.

— For full year 2019, Revenue is expected in the range of $2.135 billion to $2.150 billion, while adjusted EPS is expected between $2.39 and $2.41.

— FTNT shares jumped 7% immediately following the announcement.

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