Fortinet beats Q3 but falls ~25% after hours; Q4 billings guide implies a 9 point growth slowdown (~$33B of value gone)
Fortinet reported Q3 results tonight: revenue up 20% to $2.08B and billings up 29%, both ahead of estimates. The stock still fell about 25% after hours.
I think the market is pricing the Q4 billings guide, which implies ~20% growth at the midpoint, a 9 point drop from Q3. At ~743M shares that slide erased roughly $33B of value. Not financial advice.
Overreaction or fair reset?
https://www.investing.com/news/transcripts/earnings-call-transcript-fortinet-beats-q3-2026-estimates-but-shares-plunge-93CH-4981034
Not financial advice. For informational and educational purposes only.
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