Fortinet

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus across all key profitability metrics, despite total revenue of $2,047.9M slightly beating the $1,888.8M mean estimate (+8.42%). Non-GAAP Diluted EPS of $0.82 outperformed the $0.7467 consensus by +9.82%, driven by a massive product revenue surge (+52% YoY) and improved operating leverage. Operating income reached $689.3M, surpassing expectations of $643.0M, while gross margin remained resilient at 80.2% vs. 80.19% expected. Management signaled continued momentum with product revenue expected to grow YoY for the remainder of 2026, supported by AI infrastructure demand.