TradingKey – Fortinet (NASDAQ: FTNT) fell 5.90% to $174.08 on Wednesday, October 28, and then dropped about 25% after hours once it reported third-quarter results. Premarket quotes on Thursday, October 29, sat near $129.00, which would erase months of gains in one session for a stock that hit a 52-week high of $197.13 this year.
During the regular-session slide, Newsquawk carried an unconfirmed headline attributing the pressure to a cyber breach. Fortinet has not confirmed any breach, and the much bigger after-hours drop followed the earnings report itself.
The Headline Numbers Beat
Revenue rose 20% to $2.08 billion, above the $2.06 billion expected, and product revenue jumped 37% to $765 million. Billings, the value of new invoices sent…
