Market Overview

UPDATE: Check Point Software Posts Upbeat Q2 Earnings

Related CHKP
The Market In 5 Minutes: Stocks Trading Higher As Earnings Season Quiets Down
UBS Breaks Down The Clouding Cyber Fundamentals
How Long Will CyberArk Continue Its Earnings Streak? (Seeking Alpha)

Israel's Check Point Software Technologies (NASDAQ: CHKP) reported better-than-expected second-quarter results.

Check Point Software's quarterly non-GAAP net income surged to $172 million, from $165 million, in the year-ago quarter. Its non-GAAP earnings per share increased to $0.89 from $0.83.

Its revenue rose 7% to $363 million from $340 million. However, analysts were expecting earnings of $0.87 per share on revenue of $359.5 million.

Its non-GAAP operating income surged to $207 million from $198 million. Non-GAAP operating margin narrowed to 57% from 58% in the year-ago period.

The company's cash flow from operations dropped to $168 million versus $205 million.

Check Point Software repurchased 3.0 million shares at a total cost of $194 million during the second quarter.

Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies said, “We had a fantastic second quarter. Total revenues from products and software blades subscription delivered 10 percent growth, which was driven by strong demand across industries and business segments. We saw a nice up-tick in customer wins across the board with several very large customer contracts.”

Check Point Software shares gained 0.86% to close at $64.77 yesterday.

Posted-In: profitEarnings News


Related Articles (CHKP)

View Comments and Join the Discussion!