The Zacks Consensus Estimate for quarterly Services revenues is pegged at $590 million, indicating a year-over-year improvement of 25.5%.ДЇortinetвЂ™s first-quarter performance is likely to have benefited from higher global cybersecurity spending. Management forecast billings in the band of $1.05-$1.09 million for the January-March quarter.ДЇortiGuard security subscriptions and FortiCare technical support services are likely to have gained solid traction, aiding the companyвЂ™s Services segment. Its quarterly performance is likely to have benefited from the robust momentum in FortiGate virtual machines, which is driving the firmвЂ™s private and public cloud billings. Quote Factors to NoteДuring the first quarter, FTNT is expected to have gained from the heightened demand for security and networking products amid the pandemic as a huge global workforce is working remotely. LetвЂ™s see how things have shaped up before this announcement.

The companyвЂ™s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 8.3%. The Zacks Consensus Estimate stands at 79 cents per share, suggesting a decline of 2.5% from the year-ago reported figure. The Zacks Consensus Estimate for the same is pegged at $883.5 million, suggesting year-over-year growth of 24.4%.ДЇortinet anticipates non-GAAP earnings from the continuing operations in the range of 75 cents-80 cents per share. Fortinet FTNT is scheduled to report first-quarter 2022 results on May 4.ДЇor the first quarter of 2022, the company projects non-GAAP revenues between $865 million and $895 million.

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