Fortinet’s Q2 2025 Earnings: Will the Numbers Hold Up to the Hype?

Published: 21 Jul 2025

Author: Precedence Research

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Fortinet Inc., with a market cap of $80.3 billion, is a world-renowned American cybersecurity company that provides secure networking and cybersecurity solutions. The company boasts an impressive and comprehensive portfolio of products and services designed to cater to the cybersecurity needs of enterprises, protecting them from various threats while providing enhanced performance and reduced complexity. Additionally, it secures government networks against dynamic threats.

The Sunnyvale, California-based company announced that it will declare its fiscal Q2 2025 earnings after the market closes on August 6th. Financial analysts expect Fortinet to report an EPS of $0.5, marking a 2% growth from $0.50 in the year-ago quarter. The company has already exceeded Wall Street’s earnings expectations in the past four quarters.

For the financial year 2025, analysts expect Fortinet to report an EPS of $2.16, representing a 3.4% increase from $2.09 in fiscal 2024. By normal growth, Fortinet’s EPS is anticipated to grow 12.5% year-over-year to $2.43 in fiscal 2026. The past 52 weeks reflect a surge in Fortinet’s shares by 75.2%, outpacing the broader S&P 500 Index's ($SPX) 10.9% return and the Technology Select Sector SPDR Fund's (XLK) 10.1% rise over the same period.

Fortinet’s Q1 2025 revenue of $1.5 billion was as expected by the analysts, and adjusted EPS of $0.58 beat expectations on May 7th. Fortinet's stock dropped 8.4% the next day due to wearying forward guidance. Fortinet reflected a sales growth of a mere 13% with a minimal 4% rise in adjusted EPS for the upcoming quarter. The numbers were unsatisfactory for the company's investors.

After a thorough review of the numbers, analysts' views on Fortinet remain moderately optimistic, with an overall ‘Moderate Buy’ rating. Out of 41 analysts covering the stock, 13 recommended ‘strong buy’, 26 recommended ‘holds’, and two ‘strong sell’. Overall, the stock is trading below the average analyst price target of $108.06.