Fortinet Surges 1.10% on $1.12B Trading Volume Ranked 77th as Cybersecurity Demand Drives Record Billings and AI-Powered Growth

Fortinet (FTNT) rose 1.10% on August 13, with a trading volume of $1.12 billion, ranking 77th in market activity. The cybersecurity firm reported robust Q2 performance, including 15% growth in total billings to $1.78 billion, driven by 21% growth in Unified SASE and 31% expansion in SecOPs. The company exceeded revenue expectations with $1.63 billion in quarterly sales and launched three new cloud services: FortiIdentity, FortiDrive, and FortiConnect. Management raised full-year billings guidance by $100 million to a range of $7.325 billion-$7.475 billion.

Strong demand from large enterprise clients, particularly for high-value deals exceeding $1 million, underscored Fortinet's momentum. Non-GAAP EPS reached $0.64, outperforming the $0.57 benchmark from the same quarter last year. For Q3, the company projects billings between $1.76 billion and $1.84 billion, with revenue guidance set at $1.67 billion-$1.73 billion and non-GAAP EPS of $0.62-$0.64. The updated guidance reflects sustained traction in cloud security solutions and enterprise adoption of AI-powered services.

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