Fortinet Inc ( FTNT ) reported third-quarter financial results after the market close on Thursday. Here’s a rundown of the cybersecurity company’s quarterly report.

Q3 Earnings: Fortinet ( FTNT ) reported third-quarter revenue of $1.51 billion, beating the consensus estimate of $1.48 billion. The cybersecurity company reported third-quarter adjusted earnings of 63 cents per share, beating analyst estimates of 52 cents per share.

Fortinet’s total revenue was up 13% year-over-year. Product revenue was up 1.7% year-over-year at $473.9 million. Service revenue grew 19.1%. year-over-year to $1.03 billion. Billings of $1.58 billion were up 6.1%.

Cash flow from operations came in at $608.1 million and free cash flow totaled $571.8 million during the quarter. The company ended the third quarter with $2.49 billion in cash and cash equivalents.

“Our investments in the fast-growing markets of Unified SASE and Security Operations generated strong results as we continued to gain market share in Secure Networking,” said Ken Xie, founder, chairman and CEO of Fortinet ( FTNT ).

Fortinet’s board authorized a $1 billion increase to the company’s share repurchase program. Fortinet ( FTNT ) said it had approximately $2.03 billion remaining on its buyback as of Nov. 7.

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Outlook: Fortinet ( FTNT ) expects fourth-quarter revenue to be between $1.56 billion and $1.62 billion. The company anticipates fourth-quarter adjusted earnings of 58 cents to 62 cents per share.

Fortinet ( FTNT ) expects full-year revenue to be in the range of $5.856 billion to $5.916 billion versus estimates of $5.861 billion. The company sees full-year adjusted earnings in the range of $2.20 to $2.28 per share.

FTNT Price Action: Fortinet ( FTNT ) shares were down 5% in after-hours, trading at $79.50 at the time of writing Thursday, per Benzinga Pro.