Fortinet (FTNT) Revenue — Quarter Ended Jun 30, 2023
Fortinet reported higher revenue for the second quarter. The increase was modest compared with the prior quarter but substantial versus the same period a year earlier.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Fortinet reported higher revenue for the second quarter. The increase was modest compared with the prior quarter but substantial versus the same period a year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.3B
Revenue reported for this quarter.
Quarter-over-quarter
+2.4%
Change from the immediately preceding quarter.
Year-over-year
+25.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $1.1B | +32.6% |
| Dec 31, 2022 | $1.3B | +33.1% |
| Mar 31, 2023 | $1.3B | +32.2% |
| Jun 30, 2023 | $1.3B | +25.5% |
Revenue performance
Revenue rose sequentially and sharply year over year, alongside increases in deferred revenue and billings.
Quarterly comparison
Compared with the immediately preceding quarter, revenue grew at a slower rate. However, relative to the same quarter one year earlier, the growth rate was significantly stronger.
What to watch
Monitor supply chain disruptions and purchase order commitments, as noted in the company’s risk factors.