Fortinet forecasts annual revenue above estimates on strong cybersecurity demand

Feb 5 (Reuters) - Fortinet FTNT.O forecast fiscal 2026 revenue above Wall Street expectations on Thursday, signaling strong enterprise spending on its cybersecurity services amid growing online threats, sending its shares up around 9% in extended trading.

Companies have ratcheted up their budgets for protecting their digital infrastructure as the rise of artificial intelligence gives way to new methods of hacking, benefiting online service providers such as Fortinet.

Fortinet offers integrated cybersecurity solutions, including firewalls, intrusion prevention systems and cloud-based threat protection.

Fortinet forecast annual revenue of between $7.5 billion and $7.7 billion, compared with estimates of $7.51 billion according to data compiled by LSEG.

The company expects annual adjusted earnings per share of between $2.94 and $3.00, compared with estimates of $2.94.

It forecast first-quarter revenue of between $1.7 billion and $1.76 billion, while analysts expect $1.72 billion.

Revenue for the fourth quarter was $1.91 billion, beating estimates of $1.86 billion.