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

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Fortinet shares rallied in the extended session Tuesday after the cybersecurity company's earnings topped Wall Street estimates.

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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