Fortinet Stock Takes a Hit as Quarterly Billings Fall

Thursday, 2 May 2024, 20:43

Fortinet Inc. experienced a significant drop of 9% in its stock price after the company released its first quarter results. Despite exceeding expectations and offering strong guidance, Fortinet faced challenges as its billings slightly missed targets. Investors reacted by causing a 9% decline in the company's stock price, reflecting concerns over performance.
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Fortinet Stock Takes a Hit as Quarterly Billings Fall

Fortinet Stock Plummets 9% Following Quarterly Billings Dip

Shares of Fortinet Inc. fell 9% in the extended session Thursday after the cybersecurity company reported a better-than-expected first quarter and guidance that went beyond Wall Street forecasts, but billings were slightly off the mark.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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