Fortinet Inc. (FTNT) shares surged 7.16% in the pre-market trading session on Friday, following the company's impressive fourth-quarter 2024 earnings report and upbeat guidance for the full year 2025. The cybersecurity firm's strong performance and positive outlook fueled investor optimism, driving the stock's rally in the early trading hours.
In the fourth quarter, Fortinet reported revenue of $1.66 billion, up 17.3% year-over-year, surpassing analysts' expectations of $1.59 billion. The company's adjusted earnings per share (EPS) came in at $0.74, beating the consensus estimate of $0.61. Fortinet's robust financial results were driven by strong demand for its cybersecurity solutions, as enterprises continue to invest in advanced threat protection amid the evolving cybersecurity landscape.
The company's upbeat guidance for the full year 2025 also contributed to the stock's rally. Fortinet projected revenue in the range of $6.65 billion to $6.85 billion, exceeding Wall Street's consensus estimate of $6.63 billion. The cybersecurity firm's optimistic outlook reflects its confidence in capitalizing on the growing demand for AI-powered security solutions and the upcoming industry-wide firewall refresh cycle.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.