Fortinet (FTNT) Stock: Why It Fell Over 16% Today

By Amit Chowdhry ● Aug 4, 2022
  • The stock price of Fortinet (FTNT) fell by over 16% during intraday trading today. This is why.

The stock price of Fortinet (FTNT) fell by over 16% during intraday trading today. Investors are responding to the company’s second-quarter results.

Fortinet reported a Q2 EPS of $0.24, which was $0.02 higher than analyst estimates of $0.22. And the revenue for the quarter was $1.03 billion compared to the consensus estimate of $1.03 billion. 

Going forward, Fortinet expects a Q3 2022 EPS of between $0.26 and $0.28, compared to the consensus of $0.27. And Fortinet expects Q3 2022 revenue of between $1.105 billion and $1.135 billion, compared to the consensus of $1.12 billion. 

Plus Fortinet expects an FY2022 EPS of between $1.01 and $1.06, compared to the consensus of $1.03. And Fortinet expects FY2022 revenue of between $4.35 billion and $4.4 billion, compared to the consensus of $4.38 billion.