Fortinet Inc. plummeted in the extended session Tuesday after the computer security company cut its outlook for the quarter. Fortinet shares fell 17% to $28.27 after hours. The company expects adjusted third-quarter earnings of 15 cents to 16 cents a share on revenue of $311 million to $316 million. Analysts surveyed by FactSet had estimated 18 cents a share on revenue of $322.4 million. Previously, Fortinet had forecast earnings of 17 cents to 18 cents a share on revenue of $319 million to $324 million. The company also expects total billings of $343 million to $348 million, down from its previous forecast of $372 million to $376 million.
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