Fortinet's stock rockets as earnings help dispel fears of AI disruption
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Fortinet's stock surged 17% after the company reported strong earnings, exceeding Wall Street expectations. The cybersecurity vendor's results were driven by an increasing demand for its offerings amid a complex threat environment intensified by AI. Fortinet's revenue grew 20% year-over-year to $1.85 billion, with adjusted earnings per share rising 41% to 82 cents. The company also provided an optimistic outlook for the June quarter, expecting revenue between $1.83 billion and $1.93 billion. Other cybersecurity stocks, including Zscaler and Palo Alto Networks, also saw gains following Fortinet's results.
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