Summary by Moomoo AI
Fortinet, a leader in cybersecurity, reported a robust financial performance for the quarter ended September 30, 2024. The company's total revenue reached $1.51 billion, marking a 13% increase compared to the same period last year. This growth was primarily driven by a 19% increase in service revenue, which amounted to $1.03 billion. Operating income saw a significant rise of 55% to $470.9 million, with operating margin expanding to 31.2%. The company's financial health was further evidenced by a strong cash position, with cash, cash equivalents, and investments totaling $3.70 billion. Deferred revenue also grew, reaching $6.01 billion, indicative of future revenue potential. Geographically, revenue was well-diversified, with the Americas, EMEA, and APAC regions contributing to the overall increase. Fortinet's recent acquisition of Lacework, a cloud security company...Show More
