SUNNYVALE, Calif. (AP) _ Fortinet Inc. (FTNT) on Thursday reported third-quarter net income of $123.4 million.

The Sunnyvale, California-based company said it had net income of 75 cents per share. Earnings, adjusted for one-time gains and costs, were 88 cents per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The network security company posted revenue of $651.1 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $638.8 million.

For the current quarter ending in December, Fortinet expects its per-share earnings to range from 95 cents to 97 cents.

The company said it expects revenue in the range of $710 million to $730 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $638.6 million.

Fortinet shares have increased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $118, a rise of 46% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNT

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