Skip to main content

Advertisement

Advertisement

Business

Check Point Software Q2 profit, revenue beat estimates

Check Point Software Technologies reported on Monday a higher-than-expected 2per cent rise in second quarter net profit and 4per cent increase in revenue.

Check Point Software Q2 profit, revenue beat estimates

FILE PHOTO: A man stands next to the logo of Check Point Software Technologies at its headquarters in Tel Aviv, Israel, August 14, 2016. REUTERS/Baz Ratner

JERUSALEM: Check Point Software Technologies reported on Monday a higher-than-expected 2per cent rise in second quarter net profit and 4per cent increase in revenue.

Israel-based Check Point said it earned US$1.61 perdiluted share excluding one-time items in the quarter, upfrom US$1.58 a year earlier. Revenue grew to US$526 million, withthe company on its way to top US$2 billion for a second straightyear in 2021.

It was forecast to earn US$1.56 a share on revenue of US$523.8million, according to I/B/E/S data from Refinitiv.

"We’ve seen a 93 percent increase in ransomware attacks, as Gen V attacks are now the new norm," Chief Executive Officer Gil Shwed said.

Check Point said it bought back 2.7 million shares in thequarter worth US$325 million as part of its share repurchaseprogramme.

(Reporting by Ari Rabinovitch)

Source: Reuters

Advertisement

Also worth reading

Advertisement