Fortinet CFO Says Sales Reorg Is Working: Stock Soars After Strong Q4 Earnings And Forecast

Fortinet's stock jumped more than 10 percent in after-hours trading after reporting solid fourth-quarter earnings on Thursday as the security vendor's sales force reorganization last year is now paying off.

"Sometimes it just takes time for the gears to connect completely, especially when you're building a lot of functions at the same time," said Andrew Del Matto, Fortinet's CFO, during its fourth quarter earnings conference call on Thursday. "The model here is a lean, flat organization with low friction. We have reduced administrative and overlay layers really with the ultimate goal of driving higher velocity and getting better visibility from top to bottom of the company … We absolutely believe we have opportunity to grow more as reflected in our guidance."