Fortinet beat earnings estimates but saw stock drop on weak future guidance.

Fortinet reported third-quarter revenue of $1.73 billion, surpassing estimates, with adjusted earnings of 74 cents per share, above the expected 63 cents. Product revenue rose 18% year-over-year to $559.3 million, while service revenue reached $1.17 billion. Billings increased 14% to $1.81 billion, and the company ended the quarter with $2 billion in cash. Despite strong results, the stock declined following the release, citing soft revenue guidance.