Cybersecurity Stocks Surge Following Earnings Surprise... 22 Trillion Won Increase in Just One Day

Fortinet Inc. (NASDAQ: FTNT) closed at $105 on the Nasdaq on May 6, up 16.77%, bringing its market capitalization to about $77.6 billion (approximately KRW 109 trillion).

In a single day, its market cap grew by roughly $15.6 billion (KRW 22 trillion), and trading volume surged to 5.78 million shares.

The share price rally was driven by first-quarter revenue of $1.85 billion (about KRW 2.6 trillion), earnings per share that significantly exceeded market expectations, and guidance raising full-year 2026 revenue growth to around 15%.

Citing strong demand, the company also raised its adjusted EPS outlook for the year to $3.10–$3.16, above the Wall Street consensus.

Fortinet is a global cybersecurity firm offering network firewalls, security appliances and subscription-based services such as Secure Access Service Edge (SASE). It recently expanded its product portfolio with FortiOS 8.0, an operating system featuring enhanced AI-driven security controls.

Founded in 2000 by Chinese-born engineer Ken Xie—who still serves as CEO and chairman—Fortinet competes in the firewall-focused network security market against the likes of Cisco and Palo Alto Networks.