Fortinet Shares Jump After Earnings Beat

By Wallace Witkowski Markets MarketWatch Pulse

Fortinet Inc. shares jumped in the extended session Thursday after the cybersecurity company topped Wall Street estimates for the quarter. Fortinet shares surged 14% to $30 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $296.5 million. Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $277.2 million. Separately, Fortinet said its board authorized a $200 million share buyback program.

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