Fortinet (NASDAQ:FTNT) reported third-quarter results on Wednesday that beat expectations on the top and bottom lines. Revenue grew 20% year over year to $2.08 billion, and adjusted earnings per share of $0.91 topped the $0.86 analysts expected. The cybersecurity company also raised its full-year billings guidance for the third time this year and added $1.2 billion to its buyback authorization. After reading that paragraph, you might think that the stock would be soaring. But you'd be wrong. Fortinet's stock fell about 25% after the report was released. So what happened? Image source: Getty Images.
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