JERUSALEM (Reuters) – Check Point Software Technologies on Monday reported a higher than expected profit for the third quarter boosted by double-digit revenue growth in subscriptions for its platform that prevents attacks across networks, mobile and the cloud.
The Israeli-based company said it earned $2.07 per diluted share excluding one-off items in the July-September quarter, up 17% from $1.77 a year earlier. Revenue grew 3% to $596 million.
It was forecast to earn $2.02 a share on revenue of $591.5 million, according to I/B/E/S data from Refinitiv.
Check Point said it bought back 2.48 million shares in the quarter, worth $325 million, as part of its ongoing $2 billion share buyback programme.
CEO Gil Shwed said that despite the “tragic events in Israel over the past three weeks our global business has continued to operate as planned”, introducing new products and completing acquisitions.
(Reporting by Steven Scheer, Editing by Louise Heavens)
