Fortinet (NASDAQ:FTNT) faced a significant decline in its shares, dropping more than 25% on Friday. The cause of the downturn was the company's disappointing Q2 results. Revenue came in at $1.29 billion, compared to the Street estimate of $1.31 billion.

Fortinet's management decided to revise the full-year forecast. The company now projects full-year revenue to be $5.4 billion, which is lower than the previous estimate of $5.46 billion and falls short of the market consensus of $5.47 billion. Additionally, full-year billings are expected to reach $6.54 billion, down from the prior guidance of $6.78 billion, and below the Street forecast of $6.79 billion. In terms of adjusted EPS for the fiscal year, Fortinet anticipates $1.51, whereas the Street's expectation was $1.47.