Check Point Software Technologies Ltd (NASDAQ:CHKP) reported third-quarter FY23 revenue growth of 3% year-on-year to $596.3 million, beating the consensus of $591.5 million. 

The American-Israeli enterprise security solution provider's adjusted EPS of $2.07 beat the consensus of $2.02.

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The Cisco Systems, Inc (NASDAQ:CSCO) rival's revenue from Products and licenses declined 13.7% Y/Y to $114.2 million, Security subscriptions increased 15.2% Y/Y to $248.3 million, and Software updates and maintenance grew 1.8% Y/Y to $233.8 million.

Margin: Adjusted operating margin remained steady at 45% Y/Y. 

The company generated $222 million in operating cash flow and held $2.99 billion in cash and equivalents.

"We achieved total revenues near the top of our forecast range, with earnings per share hitting the peak," stated Gil Shwed, Founder and CEO of Check Point Software.

The company expects fourth-quarter revenue of $636 million - $686 million as against a consensus of $668.68 million. It forecasted an adjusted EPS of $2.35 - $2.55 versus the $2.37 estimate.

Price Action: CHKP shares traded lower by 0.38% at $131.40 on the last check Monday.