Fortinet,
Inc.(NASDAQ:FTNT) shares slipped $4.66 or 18.79% at $20.14 in Wednesday’s
session. As the company’s net income for third quarter fell 4% with the growth
in expenses.
Net income
fell by $0.7 million or a cent at $17.2 million or 10 cents per share for the
quarter in comparison to last year.
On the other
hand revenue rose 17 percent by $19.9 million at $136.3 million in comparison
to last year.
Will FTNT Rebound After The Recent
Slump? Find Out Here
Stating
about its adjusted earnings the company depicts 14 cents for the quarter, a
gain by cent in comparison to last year. FactSet analyst expects a profit of 14
cents per share on revenue of $136.4 million.
Expenses
related to sales and marketing grew by $7.8 million whereas the research and
development expenses grew by $3.7 million.
Check
Point Software Technologies Ltd.(NASDAQ:CHKP) shares slumped $6.27 or 13.22% at $41.15 following
the company’s disappointing fourth quarter financial guidance.
Same as
the Street forecast the company reported third quarter revenue of $332.4
million and non-GAAP profit of 79 cents per share.
The
financial guidance for the fourth quarter showed revenue of $ $355 million to
$387 million, with non-GAAP profits of 84-91 cents a share. The Street
consensus is revenue of $381.8 million and 90 cents per share of non-GAAP
profit.
“Third
quarter results continued to be good with healthy growth in enterprise
appliance units and software blade sales. Our revenues and earnings per share
came in at the upper half of our projections,” CEO Gil Shwed said in a statement.
“Geographically, North America continued to deliver great results with double
digit growth in product and service revenues.”
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