From Investing.com: 2024-05-03 04:31:17

Shares in cybersecurity service providers Fortinet and Cloudflare dropped in premarket trading following their earnings reports. Fortinet exceeded analyst expectations with an EPS of $0.43 and $1.35 billion in revenue, but still saw its shares fall. BTIG analysts noted soft Q1 results and no change in the 2024 outlook. Cloudflare reported an EPS of $0.16 and $378.6 million in revenue for Q1, beating expectations. For Q2 2024, Cloudflare expects an EPS of $0.14 and revenue between $393.5 million and $394.5 million. Palo Alto Networks and CrowdStrike also saw their shares decrease as a result of these developments.



Read more at Investing.com: Cybersecurity stocks in the red following Fortinet, Cloudflare results By Investing.com