Fortinet (FTNT) Revenue — Quarter Ended Jun 30, 2024
Fortinet's revenue increased in the current quarter, outperforming both the prior quarter and the same quarter a year ago. The growth was accompanied by an increase in deferred revenue, signaling future revenue recognition.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Fortinet's revenue increased in the current quarter, outperforming both the prior quarter and the same quarter a year ago. The growth was accompanied by an increase in deferred revenue, signaling future revenue recognition.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
+6.0%
Change from the immediately preceding quarter.
Year-over-year
+10.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.5B
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, 2023 | $1.3B | +16.1% |
| Dec 31, 2023 | $1.4B | +10.3% |
| Mar 31, 2024 | $1.4B | +7.2% |
| Jun 30, 2024 | $1.4B | +10.9% |
Revenue performance
Revenue for the quarter rose compared to both the immediately preceding quarter and the year-ago period. The company also reported higher deferred revenue and billings.
Quarterly comparison
Sequentially, revenue increased from the prior quarter. Year over year, revenue was also higher than the same quarter last year.
What to watch
The filing cites risks from supply chain constraints and adverse economic conditions that may affect future results.