'Gold Medal Acceleration': Fortinet (FTNT) Delivers Very Strong Beat and Outlook, Wall Street Bulled Up with At Least 10 PT Hikes

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Go back to 'Gold Medal Acceleration': Fortinet (FTNT) Delivers Very Strong Beat and Outlook, Wall Street Bulled Up with At Least 10 PT Hikes

Fortinet Reports Second Quarter 2021 Financial Results

July 29, 2021 4:05 PM EDT

Second Quarter 2021 Highlights

Total revenue of $801.1 million, up 30% year over yearProduct revenue of $298.3 million, up 41% year over yearService revenue of $502.8 million, up 24% year over yearBillings of $960.9 million, up 35% year over year1Deferred revenue of $2.91 billion, up 27% year over yearGAAP operating margin of 18.4%Non-GAAP operating margin of 25.4%1GAAP diluted net income per share of $0.82Non-GAAP diluted net income per share of $0.951Cash flow from operations of $418.2 millionFree cash flow of $394.7 million, a Fortinet quarterly... More