04:35 PM EDT, 05/02/2024 (MT Newswires) -- Fortinet ( FTNT ) reported Q1 non-GAAP earnings late Thursday of $0.43 per diluted share, up from $0.34 a year earlier.

Analysts surveyed by Capital IQ expected $0.38.

Revenue for the quarter ended March 31 was $1.35 billion, up from $1.26 billion a year earlier.

Analysts polled by Capital IQ expected $1.34 billion.

The company said it expects Q2 non-GAAP EPS of $0.39 to $0.41. Analysts surveyed by Capital IQ expect $0.40. The company expects revenue for the quarter of $1.38 billion to $1.44 billion. Analysts surveyed by Capital IQ expect $1.40 billion.

Fortinet ( FTNT ) expects full-year 2024 non-GAAP EPS of $1.73 to $1.79, compared with its prior outlook of $1.65 to $1.70. Analysts surveyed by Capital IQ expect $1.71. The company expects revenue for the year of $5.75 billion to $5.85 billion, versus $5.72 billion to $5.82 billion previously. Analysts surveyed by Capital IQ expect $5.78 billion.

Shares of the company fell 7.8% in after-hours trading.

Price: 60.10, Change: -5.10, Percent Change: -7.82