Fortinet shares surge more than 15% after earnings, outlook beats

Fortinet Inc. shares rallied in the extended session Tuesday after the cybersecurity company’s earnings topped Wall Street estimates, and its outlook forecast a slightly better-than-expected year.

Fortinet FTNT shares surged as much as 18% after hours, following a 3.4% rise in the regular session to close at $53.78. Revenue rose to $1.28 billion from $963.6 million in the year-ago quarter, while billings rose 32% to $1.72 billion. Fortinet forecast earnings of 27 cents to 29 cents a share on revenue of $1.18 billion to $1.22 billion for the first quarter, on billings of $1.42 billion to $1.47 billion.

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