Fortinet (Nasdaq: FTNT) reported earnings on April 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Fortinet met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share dropped. GAAP earnings per share dropped.

Margins contracted across the board.

Revenue details
 Fortinet reported revenue of $135.8 million. The 19 analysts polled by S&P Capital IQ foresaw revenue of $135.1 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $117.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.10. The 22 earnings estimates compiled by S&P Capital IQ predicted $0.10 per share. Non-GAAP EPS of $0.10 for Q1 were 9.1% lower than the prior-year quarter's $0.11 per share. GAAP EPS of $0.07 for Q1 were 22% lower than the prior-year quarter's $0.09 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 71.2%, 230 basis points worse than the prior-year quarter. Operating margin was 11.3%, 430 basis points worse than the prior-year quarter. Net margin was 9.0%, 310 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $145.7 million. On the bottom line, the average EPS estimate is $0.10.

Next year's average estimate for revenue is $599.8 million. The average EPS estimate is $0.49.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 104 members out of 114 rating the stock outperform, and 10 members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give Fortinet a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fortinet is outperform, with an average price target of $27.10.

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