Non-GAAP earnings per share (EPS) was $1.77 in the third quarter of 2022, beating the analysts’ forecast of $1.67.
Israeli IT security company Check Point Software Technologies (Nasdaq: CHKP) has reported revenue of $578 million for the third quarter of 2022, up 8.2% from the corresponding quarter of 2021, and above the analysts’ expectations. Non-GAAP earnings per share (EPS) was $1.77, also beating the analysts’ forecast of $1.67.
Revenue growth was higher than average for recent years, although it was 9% in the second quarter of 2022. In the first three quarter of 2022, Check Point’s revenue amounted to $1.69 billion, up 7.9% from the corresponding period of 2021. There was revenue growth in all the company’s areas of activity – products and licenses, security subscriptions, software updates and maintenance).
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Check Point beats analysts on revenue and earnings
GAAP net profit in the third quarter of 2022 was $184 million, down 1.6% on the corresponding quarter of last year and non-GAAP profit was $221 million, up 0.5%.
Check Point founder and CEO Gil Shwed said, “We delivered strong third quarter results reflecting solid execution during the quarter. Revenues came in toward the high-end of our projections, while non-GAAP earnings per share exceeded projections. Product and Security Subscription revenues increased by thirteen percent driven by double-digit growth in Harmony, CloudGuard and Quantum network security gateways.”
Published by Globes, Israel business news – en.globes.co.il – on October 27, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Gil Shwed Credit: Tamar Matsafi
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