UPDATE: Check Point Q1 Net Income Surges 18%

Check Point Software Technologies Ltd

reported an 18% rise in its first-quarter net income. Check Point's quarterly earnings climbed to $143.6 million, or $0.68 per share, versus $122.1 million, or $0.57 per share, in the year-ago quarter. Its adjusted earnings came in at $0.74 per share. Check Point's revenue rose to $313.1 million from $281.2 million. However, analysts were expecting earnings of $0.72 per share on revenue of $312.9 million. Check Point shares closed at $64.05 on Friday.