Cybersecurity firm Fortinet cut its annual revenue forecast on Thursday as spending from enterprise clients remained tight amid a turbulent economy, sending its shares down more than 17% after the bell.
cut its annual revenue forecast on Thursday as spending from enterprise clients remained tight amid a turbulent economy, sending its shares down more than 17% after the bell.
Fortinet now expects annual revenue between $5.35 billion and $5.45 billion compared with a prior view of $5.43 billion to $5.49 billion.As customers shift to more long-term investments, Fortinet's near-term revenue growth continues to take a hit while it also faces tough competition from bigger rivals like Palo Alto NetworksFortinet's operating margin too has come under pressure from its increased hiring to boost sales and marketing.
It posted total revenue of $1.29 billion for the second quarter and missed expectations of $1.30 billion, according to Refinitiv data.Reporting by Yamini Kalia in Bengaluru; Editing by Maju Samuel and Arun Koyyur
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Indiana mass shooting suspect arrested in connection with attack that killed 1, injured 17Indiana police made an arrest Tuesday in connection with a weekend mass shooting that killed one person and left 17 people injured.
Leer más »
Arrest made in Indiana shooting that killed 1, wounded 17Police have arrested a suspect in the shooting at a street party in Muncie, Indiana, that left one person dead and 17 others wounded.
Leer más »
Passages’ NC-17 Rating Reflects the MPAA’s Queerphobic HistorySlapping Passages with an NC-17 rating is some Hays Code behavior by the MPA. Ceilidhann walks us through a brief history of how Codes, ratings, and corporate-driven hypocrisy have always been used to stifle queer film:
Leer más »
Coconino County deputy seizes 40K fentanyl pills during I-17 traffic stopA Coconino County deputy discovered 40,000 fentanyl pills in a vehicle during a traffic stop on I-17, and two people have been arrested.
Leer más »