Fortinet (FTNT) reported Q1 non-GAAP earnings late Wednesday of $0.58 per diluted share, up from $0.43 a year earlier.

Analysts polled by FactSet expected $0.53.

Revenue for the quarter ended March 31 was $1.54 billion, up from $1.35 billion a year earlier.

Analysts surveyed by FactSet expected $1.54 billion.

The company set Q2 non-GAAP EPS guidance of $0.58 to $0.60 on revenue of $1.59 billion to $1.65 billion. Analysts surveyed by FactSet expect non-GAAP EPS of $0.58 on revenue of $1.63 billion.

The company adjusted its full-year 2025 non-GAAP EPS guidance to $2.43 to $2.49 from $2.41 to $2.47 earlier. Analysts surveyed by FactSet expect $2.45.

The company reiterated its revenue guidance for 2025 of $6.65 billion to $6.85 billion. Analysts surveyed by FactSet expect $6.75 billion.

Shares of the company were down 8.2% in after-hours activity.

Price: 98.00, Change: -8.72, Percent Change: -8.17