{"id":79979,"date":"2023-11-02T20:08:19","date_gmt":"2023-11-03T00:08:19","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/fortinets-stock-slides-after-earnings-as-guidance-misses-the-mark-yet-again\/"},"modified":"2023-11-02T20:08:24","modified_gmt":"2023-11-03T00:08:24","slug":"fortinets-stock-slides-after-earnings-as-guidance-misses-the-mark-yet-again","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=79979","title":{"rendered":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again"},"content":{"rendered":"
\n

Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. <\/p>\n

The cybersecurity company came up short with its fourth-quarter revenue forecast, which calls for $1.38 billion to $1.44 billion. Analysts were looking for $1.50 billion. Fortinet\u2019s
\n FTNT,
\n +0.49%<\/bg-quote>
\n management also projects $1.56 billion to $1.70 billion in billings, which is defined as GAAP revenue plus the change in deferred revenue from the beginning to the end of the period, minus any deferred revenue balances. <\/p>\n

\n

The FactSet consensus on that metric was for $1.90 billion in billings.<\/p>\n

Fortinet is looking for 42 cents to 44 cents in adjusted earnings per share during the fourth quarter, which compares with the 42-cent FactSet consensus.<\/p>\n

Shares were off 17% in after-hours trading Thursday. The stock had seen a 25% post-earnings drop when Fortinet posted second-quarter results in early August, which made for the stock\u2019s worst single-day percentage drop on record.<\/p>\n

Fortinet shares are still up 18% so far this year.<\/p>\n

See also:<\/strong> CrowdStrike\u2019s and Zscaler\u2019s stocks are top plays in rocky cybersecurity market, analyst says<\/p>\n

The company generated third-quarter revenue of $1.34 billion, up from $1.15 billion a year before, while analysts were modeling $1.35 billion. Billings reached $1.49 billion, up 6% from a year before, whereas analysts had been looking for $1.59 billion.<\/p>\n

Third-quarter net income came in at $322.9 million or 41 cents a share, compared with $231.6 million, or 29 cents a share, a year before. The FactSet consensus was for 36 cents a share. <\/p>\n

Shares of fellow cybersecurity names, including Palo Alto Networks Inc.
\n PANW,
\n +2.25%<\/bg-quote>
\n and Zscaler Inc.
\n ZS,
\n +1.62%<\/bg-quote>,<\/span>
\n also fell in after-hours trading Thursday following Fortinet\u2019s report.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The cybersecurity company came up short with its fourth-quarter revenue forecast, which calls for $1.38 billion to $1.44 billion. Analysts were looking for $1.50 billion. Fortinet\u2019s FTNT, +0.49% management also projects $1.56 billion to $1.70 billion […]<\/p>\n","protected":false},"author":1,"featured_media":79980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-79979","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nFortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=79979\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=79979\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-03T00:08:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-03T00:08:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1698970101_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1279\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79979#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79979\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again\",\"datePublished\":\"2023-11-03T00:08:19+00:00\",\"dateModified\":\"2023-11-03T00:08:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79979\"},\"wordCount\":278,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=79979#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79979\",\"url\":\"https:\/\/ifintechworld.com\/?p=79979\",\"name\":\"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-03T00:08:19+00:00\",\"dateModified\":\"2023-11-03T00:08:24+00:00\",\"description\":\"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79979#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=79979\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79979#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld","description":"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=79979","og_locale":"en_US","og_type":"article","og_title":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld","og_description":"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The","og_url":"https:\/\/ifintechworld.com\/?p=79979","og_site_name":"iFintechWorld","article_published_time":"2023-11-03T00:08:19+00:00","article_modified_time":"2023-11-03T00:08:24+00:00","og_image":[{"width":1279,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1698970101_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=79979#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=79979"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again","datePublished":"2023-11-03T00:08:19+00:00","dateModified":"2023-11-03T00:08:24+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=79979"},"wordCount":278,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=79979#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=79979","url":"https:\/\/ifintechworld.com\/?p=79979","name":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-03T00:08:19+00:00","dateModified":"2023-11-03T00:08:24+00:00","description":"Fortinet Inc. whiffed badly with its guidance three months ago, and the company\u2019s third-quarter report Thursday brought another disappointment. The","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=79979#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=79979"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=79979#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Fortinet\u2019s stock slides after earnings as guidance misses the mark yet again"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79979"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79979\/revisions"}],"predecessor-version":[{"id":79981,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79979\/revisions\/79981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/79980"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}