Guggenheim Upgrades Fortinet (FTNT) to Buy, 'growth to reaccelerate into 2024'
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Fortinet Reports Second Quarter 2023 Financial Results
August 3, 2023 4:05 PM EDTSecond Quarter 2023 Highlights
Product revenue of $472.6 million, up 18% year over yearService revenue of $820.2 million, up 30% year over yearTotal revenue of $1.29 billion, up 26% year over yearBillings of $1.54 billion, up 18% year over year1Deferred revenue of $5.13 billion, up 30% year over yearGAAP operating income of $279.0 million, up 43% year over yearNon-GAAP operating income of $348.1 million, up 36% year over year1GAAP operating margin of 21.6%Non-GAAP operating margin of 26.9%1GAAP... More