Fortinet Inc. reported strong fourth-quarter earnings for 2024, surpassing Wall Street estimates. The company achieved an adjusted earnings per share (EPS) of $0.74, beating the consensus estimate of $0.61, and total revenue reached $1.66 billion, exceeding the expected $1.59 billion. This represents a 17% year-over-year increase in total revenue, with product revenue up 18% to $574 million. Fortinet's billings for the quarter hit $2.0 billion, a 7% increase from the previous year, with an adjusted operating margin of 39%. The company's GAAP net income for the quarter was $526.2 million. Looking ahead, Fortinet provided guidance for the first quarter of 2025, expecting an adjusted EPS between $0.52 and $0.54, in line with the estimate of $0.53, and revenue projected to be between $1.5 billion and $1.56 billion. For the full year 2025, Fortinet anticipates revenue to range from $6.65 billion to $6.85 billion, with billings expected to be between $7.2 billion and $7.4 billion, and an adjusted gross margin of 79% to 81%. The adjusted EPS forecast for 2025 is $2.41 to $2.47, slightly above the consensus of $2.43 per share on revenue of $6.62 billion. Fortinet's non-GAAP EPS for the quarter was $0.74, up 45% year-over-year. The company's gross profit has increased 12 times over the last 12 years. Following the earnings release, Fortinet's stock rose by 10% in after-hours trading.