Fortinet Shares Jump After Earnings Beat

Fortinet Inc. shares jumped in the extended session Thursday after the cybersecurity company topped Wall Street estimates for the quarter. Fortinet shares surged 14% to $30 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $296.5 million. Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $277.2 million. Separately, Fortinet said its board authorized a $200 million share buyback program.